Virgin Mobile (NYSE: VM) USA has released its first earnings since its IPO in October.Revenue for Q3 increased 25 percent year-on-year to $301.4 million, and adjusted EBITDA was $17 million, an increase of 4 percent year-on-year — although Virgin had a one-time favorable impact of $11.4 million in Q306, and without this impact EBITDA was up 240 percent. Virgin reported a net loss for the quarter of $7.3 million, an increase of 43 percent year-on-year primarily due to the aforementioned favorable impact in Q306, as well as more costs associated with faster growth. Non-voice service revenues increased by 30 percent year-on-year. fi
Subscribers: The MVNO had about 4.9 million customers at the end of September, an increase of 23 percent compared to the same time a year ago. It saw gross customer additions of 759,927 for the quarter, up 14 percent compared to the number of gross additions in Q306. However, net subscriber additions was 45,830 in Q307, compared to 88,386 a year ago. Churn was 4.9 percent, a year ago it was 4.6 percent.
Gross customer additions for Q307 totaled 759,927, up 14 percent from 667,456 in Q306. As of September 30, 2007, the company had approximately 4.9 million customers, an increase of 23 percent over the same period last year.
Lot more details in the earnings release.
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