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Virgin Mobile posts profit in Q1 thanks to its new unlimited plan

By John Velasco

Updated: May 13, 2009, 7:47 AM

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Virgin Mobile posts profit in Q1 thanks to its new unlimited plan

This year might already be hailed as the no contract era with plenty of customer jumping out of lengthy contracts due to the state of economic affairs. Virgin Mobile is sitting happy when they reported a new income of $19.1 million, or 19 cents a share during the first quarter. This number easily beats out the $4.7 million they did last year during the same period with a stellar growth of 301 percent. Total revenue was up 2 percent to $337.3 million for Q1. They were quickly to adopt their new $49.99 per month unlimited calling plan to match competitors. Additionally, their gain in profits came from other new services such as the “Texter's Delight” and “Pink Slip Protection.” The only sour note to come out was the 639,259 customers they added during Q1 versus the 795,575 gained last year. Virgin Mobile did note that their net additions during Q1 were affected by rival offerings.

via mocoNews

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