Adhering to the policy of transparency and accountability, „Telecom Armenia“ OJSC (trademark: Team Telecom Armenia) has released its technical, economic, and financial indicators for the 2nd quarter of 2024. The company has reported significant growth in the number of subscribers and income, showcasing its strong performance in the telecommunications sector.
Mobile Communication:
In the 2nd quarter of 2024, „Telecom Armenia“ generated a revenue of 4.89 billion AMD from mobile communication, marking a 5.5% increase compared to the 1st quarter of the same year. This revenue also surpassed the indicator of the 2nd quarter of 2023 by 5.0%. The company’s mobile communication subscribers reached 1,051,679 by the second quarter of 2024.
Compared to the 1st quarter of 2024, an increase of 1.5% or 15,391 subscribers was recorded. Additionally, compared to the 2nd quarter of 2023, the number of subscribers increased by 8.9% or 85,553 subscribers. The number of subscribers using mobile internet services also saw a steady rise, reaching 761,137 in the 2nd quarter of 2024.
The revenue generated from mobile internet services in the 2nd quarter of 2024 was 2.54 billion AMD, showing a growth of 13% compared to the previous quarter. As of the 2nd quarter of 2024, „Telecom Armenia“ holds 25.9% of the subscribers in the mobile communication market in Armenia.
Fixed Communication:
In the 2nd quarter of 2024, „Telecom Armenia“ earned 3.93 billion AMD from fixed-line services, surpassing the index of the same period in the previous year by 5.2%. The number of connected internet subscribers as of the 2nd quarter of 2024 is 96.9 thousand, showing a rise of 4.3% compared to the 2nd quarter of 2023.
As a result of the 2nd quarter of 2024, „Telecom Armenia“ has 32.3% of the subscribers in the fixed internet market. The company’s strategic project of constructing a high-speed optical fiber network with a bandwidth of 25 Gb/s has shown positive results, with thousands of subscribers reconnecting to the new fixed internet network.
Hayk Yesayan, CEO of Team Telecom Armenia, stated, „Our strategic project has resulted in a consistent increase in the number of new subscribers. The level of satisfaction with this network is very high, and we expect this demand to increase in the future. This network will also become the basis for launching the most advanced mobile services throughout Armenia, guaranteeing stable revenue growth.“
„Telecom Armenia“ OJSC (trademark: Team Telecom Armenia) is a leading telecommunications company in Armenia, with a history of over a century in providing services in the field. The company offers mobile and fixed internet, digital television, mobile and fixed telephone communication services to individual and corporate subscribers. Their goal is to provide high-quality telecommunication services to all residents of Armenia by consistently updating and re-equipping networks and introducing new international channels.
OJSC „Telecom Armenia“ is the first telecommunications company in Armenia to conduct an initial public offering (IPO), further demonstrating its commitment to transparency and accountability. The company’s shares are listed on the Armenian Stock Exchange, showcasing its dedication to being open and public in its operations. With its strong performance in the 2nd quarter of 2024, „Telecom Armenia“ continues to be a key player in the telecommunications sector in Armenia.
