Financial Results

Zoom beat many market expectations and posted impressive growth for the second quarter. The big channel player said total revenue reached $1.138 billion for the quarter ended 31 July, 2023, which was up 3.6% year over year, and enterprise revenue was $659.5m, up 10.2% year over year.

Exclusive Networks delivered a 20% increase in gross sales for the half-year ended June 30, reporting a record €2.3bn.

Openreach’s full fibre footprint has expanded to 11 million homes and businesses, 44% of its 25 million premise target. This represents a 718k passed in the quarter at an average build rate of 55k per week.

TD Synnex saw revenue fall 7.9% to $14.1bn during the second fiscal quarter as demand continues to wane for PC ecosystem products, prompting a decline in the company’s Endpoint Solutions portfolio.

SysGroup has seen its revenues swell 47% in the financial year ended 31st March, rising from £21.65m to £14.75m (2022).

Nfon’s strategic realignment facilitated a 5.3% increase in recurring revenues to €19.3m in the first quarter of 2023. Recurring revenues now account for 93.1% of total revenues. 

BT Group’s latest financial results predict the firms’ standing in 2030, with 55,000 jobs expected to be shed and a fifth replaced by AI.

Vodafone is cutting 11,000 jobs in the next three years as part of reorganisation plans detailed by Group CEO Margherita Della Valle in the company’s FY23 preliminary results.