O2: holding its own in toughening conditions | Jun 2019

Sectors: 
Media
Telecoms
Companies: 
O2
Telefonica

After a period of significant outperformance, O2’s Q1 results reverted to sector average revenue growth with ARPU down by 3% and all of the growth coming from ‘other’ revenues

Regulation limiting out-of-bundle spending has been a significant drag which will continue to worsen

A more competitive market and a punishing regulatory outlook will make it very challenging to sustain 2018 growth trends as this year progresses

Access O2: holding its own in toughening conditions