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242,000 XT customers give Telecom an earnings boost


6-Nov-2009

Telecom were upbeat today as they released their earnings results for the financial quarter to 30 September 2009.

They announced increased net earnings of $163M on revenue of $1356M and attributed some of that success to the strong performance of their XT network since it launched in August. Despite a decline in gross revenues Telecom's net earnings increased $14M from those achieved 1 year ago, though this was partly due to a positive tax effect from changes in tax law.

According to Telecom CEO Paul Reynolds, "Telecom saw a net increase of 64,000 mobile customers during Q1, with 242,000 customers on XT at the end of its first full quarter of operation."

Mr. Reynolds also commented that XT has encouraged existing customers to use their mobile services more, to the tune of a 16% increase in average revenue per user for those customers.

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