MTN Q1 revenue rises 9%, shares jump

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South African telecoms firm MTN Group reported a 9.1 percent rise in its revenue for the quarter to the end of March, sending its shares five percent higher.

Revenue at Africa’s biggest telecoms firm increased due to growth in Nigeria and Ghana, where voice revenue expanded, the company said in a statement.

MTN said its subscribers increased by 1.9 percent quarter-on-quarter with net additions of 4.1 million, while the group’s data revenue was up by 26.9 percent.

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