воскресенье, 16 марта 2008 г.

Virgin Mobile USA in trouble

Shares fall 54 per cent as customer and earnings targets fall short.




The US MVNO market appears to be struggling, with Virgin Mobile USA blaming poor economic conditions for a slump in 1Q08 customer acquisitions.

The company said it expects to add 5,000 to 20,000 new customers in the quarter, down substantially from 210,000 in 3Q07.

Virgin Mobile USA's share price slumped 50 per cent to $2.30 as news of the poor performance emerged, but recovered thereafter to close at $2.61 at Friday's close of trading on Wall Street.











Virgin Mobile USA is 35 per cent owned by Sir Richard Branson's Virgin Group. Branson is due to deliver the opening keynote at the CTIA Wireless trade show next month.

But the problems in the once vibrant US MVNO market are not limited to Virgin. Amp'd went bust spectacularly last summer owing $100m, while last month Helio posted a net loss of $237m for 2007, compared to losses of $191m in 2006.


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