TOKYO-NTT DoCoMo Inc. released consolidated financial results for the first six months of fiscal year 2004, ended Sept. 30.
The company said operating revenues were $23 billion, down 3.3 percent from a year ago, and operating income was $5 billion, down 7.6 percent from last year. Earnings reached $65 per share.
Going forward, DoCoMo expects operating revenues to total $45 billion, down 4.5 percent year-on-year, for the full fiscal year, ending March 31, 2005. The company expects operating income to be $7.8 billion, which would be down 24.7 percent year-on-year.
Increased discount rate offerings for subscribers led to the decreases in operating revenues and income, said Masao Nakamura, DoCoMo’s president and chief executive officer. “Although the operating revenues and operating income for this fiscal period decreased compared to the same period of the prior year as a consequence, these measures led to positive results in other areas, including steadfast progress in migrating existing mova subscribers to FOMA and an improvement in our cellular churn rate,” said Nakamura.
DoCoMo reached 47 million cellular subscribers during the period to achieve a market share of 56.2 percent. Aggregate average revenue per user was approximately $69 and churn was 1.07 percent.
Shares of DoCoMo were trading up 2.43 percent at $17.70 each on the New York Stock Exchange following the news.
