O2 UK reports steady customer and revenue growth

The UK bit of Telefónica has reported healthy Q3 2019 numbers, with all the key metrics headed in the right direction.

Total revenues at O2 UK grew by 4.1% year-on-year, operating income was up 5.7% and the total customer base expanded by 5.6% to 34.1 million. O2 also reckons it has the lowest contract churn in the sector at 1%. Having said that the net adds were fairly flat, maintaining its mobile customer base at 26 million.

“Our Q3 performance continues the strong momentum we saw in the first half of the year, powered by a relentless focus on our customers through award-winning coverage and great offerings such as flexible Custom Plans and limitless data,” said Mark Evans, CEO of Telefónica UK

“We’re moving at pace with our 5G rollout, already live in six UK cities rising to twenty by the end of the year. 5G offers critical support to the UK’s digital economy, supporting jobs and growth. That’s why we welcome Ofcom’s recent statement updating the rules for the planned auction of more 5G airwaves. This will help operators to deliver greater value and better connectivity to the public.”

The other thing O2 seemed keep to flag up was its involvement in a scheme to test driverless vehicles in London via its recently launched 5G network. The project is being run by an organisation called the Smart Mobility Living Lab and it seems to have a fair bit of industry and public sector buy-in.

“At O2 we’re determined to help businesses of all sizes realise the potential of fifth-generation mobile technology,” said Brendan O’Reilly, O2’s CTO. “We know that the transport sector is going to be one of the key beneficiaries of 5G – and that the technology has the potential to reduce traffic congestion, as well as making journeys safer and more enjoyable.

“That’s why we’re excited to be working with the teams at the Smart Mobility Living Lab, who are driving forward our understanding how this next generation technology will fundamentally change the fabric of the cities in which we live and work as well as creating entirely new methods of travel.”