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Vimpelcom posts USD 1 bln loss in Q3 on Uzbekistan provision
2015-11-06 09:06:00| Telecompaper Headlines
(Telecompaper) Vimpelcom reported a net loss of USD 1.005 billion for the third quarter, versus a profit of USD 105 million a year earlier, due to a provision of USD 900 million for possible damages from the pending investigation into its Uzbekistan activities. Underlying results were also under pressure from negative currency effects and difficult economic conditions in some of the Russian company's markets. Revenues fell 31 percent to USD 2.442 billion, and EBITDA was down 96 percent to USD 58 million. On an organic basis excluding currency effects, Vimpelcom said revenues were up 2 percent, while EBITDA excluding one-time items was down just 1 percent. The new CEO Jean-Yves Charlier said the company was sticking to its financial targets as the transformation programme started earlier this year makes progress. The company will give more details on its strategy at the full-year results penetration next year, he said. For 2015, Vimpelcom forecasts service revenue flat to a single-digit decline, the underlying EBITDA margin flat to minus 1 percent point, and capital expenditure excluding licence fees at 18-20 percent of revenue. In the first nine months of the year, service revenue was flat, the underlying EBITDA margin fell 1.2 percent points to 41.3 percent, and capital expenditure nearly halved to USD 1.137 billion, or 15.5 percent of revenue. Operating cash flow in the nine months was down 23 percent year-on-year to USD 1.887 billion, but Vimpelcom said it will pay a dividend of USD 0.035 per share in December.
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Cellcom to acquire Golan Telecom for ILS 1.17 bln
2015-11-05 08:45:00| Telecompaper Headlines
(Telecompaper) Cellcom announced an agreement with Golan Telecom and its shareholders for the purchase of 100 percent of Golan for ILS 1.17 billion. Golan launched mobile services in Israel in 2012, focusing on low-cost, 'all-in' tariff plans. It counts around 900,000 customers as of November, with a comparatively low churn, Cellcom said. Golan is expected to end 2015 with revenues exceeding ILS 500 million. The purchase price represents an enterprise value of ILS 1 billion for Golan, equal to around 5x adjusted EBITDA for this year. Up to ILS 400 million of the purchase price will be paid as a mandatorily convertible 5-year note issued to the sellers by the company. The note will be repaid with the issue of ordinary Cellcom shares.
Facebook passes 1 bln daily users in Q3
2015-11-04 23:53:00| Telecompaper Headlines
(Telecompaper) Facebook passed 1 billion active daily users in the third quarter, an increase of 17 percent year-on-year and up from 968 million in the previous quarter. Of the total, 894 million accessed the social network each day over a mobile device, up 27 percent from a year ago. Monthly active users rose 14 percent year-on-year to 1.55 billion at the end of September, including 1.39 billion mobile users. Advertising revenues from Facebook rose at an even faster rate of 45 percent in the third quarter, and mobile accounted for 78 percent of the USD 4.30 billion in ad revenues. Total revenues at the company increased 41 percent year-on-year to USD 4.50 billion, while operating profit was up only 4 percent to USD 1.46 billion, after a 68 percent increase in operating costs. Net profit rose 11 percent to USD 896 million, and adjusted earnings were up 33 percent to USD 0.57 per share. Facebook generated USD 1.41 billion in free cash flow in the quarter and finished the period with total cash of USD 15.83 billion.
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NTT Com to invest INR 10 bln in India
2015-11-01 13:33:00| Telecompaper Headlines
(Telecompaper) NTT Communications (NTT Com), the ICT services and international communications business within NTT, plans to invest around INR 10 billion in India over the next three years, NTT Com's CEO Tetsuya Shoji told ET. The company has applied for a national long-distance licence and is currently expanding its data business in India. NTT Com needs the long-distance licence to interconnect its data centres and client locations via optical fibre cables.
Baidu sees Q3 net income drop 26.7% to CNY 2.8 bln
2015-10-30 09:34:00| Telecompaper Headlines
(Telecompaper) Chinese internet search provider Baidu reported total revenues of CNY 18.383 billion (approximately USD 2.892 billion) for the third quarter of 2015, which represents a 36 percent increase from the third quarter of 2014. Mobile revenue accounted for 54 percent of total revenues for the third quarter of 2015, compared to 37 percent for the corresponding period in 2014. Third-quarter net income plunged 26.7 percent to CNY 2.841 billion (approximately 447 million) at 30 September 2015.
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