Virgin Mobile Posts Decent Q3 Numbers

Prepaid mobile leader Virgin Mobile announced their Q3 earnings last week and while the numbers didn't blow anyone out of the water, they were rather encouraging. They rang up about 323.2 million in sales in Q3 with about 4.1 million of that in profit, not bad considering last quarter they made $3.6 million on $317.4 million in sales. Slightly less sales from last quarter but they manged to keep more from less, indicating a stronger operational efficiency and higher ARPU numbers (they average somewhere just north of $20 per month per user).

To show that Virgin is committed to maintain a more efficient workforce in these tough times they also announced that they would be cutting their workforce by 10 percent (roughly 45 jobs) in the coming quarter. While these cuts are not as bad as we see in other industries and companies, the mere suggestion of cutting jobs always leads investors and shareholders to loose confidence. The result of this announcement caused shares to fall by about 10%.

View Full Details About Virgin Mobile's Q3 Filing