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  • Business - Companies
  • Updated: October 29, 2020

MTN Earnings Rise By 14%, As SMS, USSD Revenue Segment Drop In Q3 2020

MTN Earnings Rise By 14%, As SMS, USSD Revenue Segment Drop

MTN Nigeria revenue increased by over 14% within three months of July to September 2020, as revenue clocked NGN337.68 billion in the third quarter of 2020, surpassing the NGN289.55 billion it generated as revenue in the corresponding period of 2019 Q3.

The telecommunications giant revenue sources are from Voice call, data, digital, fintech and other service revenue. In a statement obtained by AllNews, MTN Nigeria generated NGN222.31 billion from voice call in Q3 this year, surpassing the NGN207.69 billion of Q3 2019.

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Data revenue, which has been a driver in MTN Nigeria's earnings, climbed NGN87.55 billion in three months of Q3 2020, rising beyond the NGN56.30 billion MTN got from data in the corresponding period of last year third quarter.

The company also generated NGN2.41 billion from Digital services during 2020 third quarter, rising by 102.3% above the NGN1.19 billion of last year's third quarter. Also, revenue from Fintech rose to NGN11.02 billion in Q3 2020, surpassing the NGN8.75 billion of Q3 2019.

However, revenue from other services, which includes SMS, USSD, and more, dropped by -10.6% in Q3 this year after generating NGN13,51 billion, failing to surpass the NGN15,12 billion recorded in the corresponding period of last year Q3.

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