MTN Nigeria’s data revenue slow, as voice earnings hit N244.61 billion in Q1

MTN Nigeria’s data revenue slowed in the first quarter of 2021, while its voice revenue rose faster in the same period when compared to the corresponding period in 2020, analysis of the company’s financial statements showed.

The revenue generated in the voice service for Q1 this year was put at N244.61 billion, surpassing the N226.56 billion voice revenue generated during the same period in 2020.

This represents 8 percent increase, which was higher than the 6.1 percent year-on-year growth recorded in 2020, Ripples Nigeria’s analysis of MTN Nigeria’s Unaudited financial statements showed.

For the revenue generated from data, MTN Nigeria recorded N105.69 billion in the first quarter of this year, rising past the N74,13 billion the network provider grossed in first quarter of 2020.

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The data revenue growth during the end of the first three months of 2021 rose by 42.6 percent. This is a slow growth when compared to the 58.9 percent growth of data earnings in 2020.

The company didn’t display its revenue from SMS, which has been declining for years. The last result released on the SMS revenue in 2020 full year showed SMS earnings dropped to N3.33 billion, against the N3.66 billion reported in 2019 full year.

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