MTN First Quarter Core Earnings Rise 27.9 Percent
Africa's largest telecom operator reported a 27.9 percent increase in quarterly core earnings to 27.6 billion rand as strong growth in Nigeria and Ghana offset competitive pressure in South Africa. Group service revenue rose 21.1 percent driven by a 35.4 percent surge in data usage across its 16 markets.
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MTN GROUP LTD reported a 27.9% jump in core earnings to 27.6 billion rand ($1.67 billion) for the first quarter. The result outpaced revenue growth as tighter cost controls and performance in Nigeria and Ghana lifted margins. Diversified growth across 16 markets offsets persistent competitive pressure in South Africa.
