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- Aussie Broadband (ABB) has downgraded the number of broadband net additions it’s expecting for Q2, amid ‘teething issues’
- The internet provider revealed while it was on track to add up to 40,000 organic broadband net additions, the migration of white label services had hit a snag
- Specifically, ABB says early stage teething issues results in only 8715 of the planned 20,000 migrations being completed by the end of December
- The shortfall will now be completed in Q3, while Aussie expects to end the year with just roughly 494,000 broadband services connected
- Company shares are up 3.93 per cent at $4.76 per share
Aussie Broadband (ABB) has downgraded the number of broadband net additions it’s expecting for Q2, amid ‘teething issues’.
The internet provider released a business update on Wednesday, revealing the migration of white label services had hit a snag in the last few months.
Specifically, ABB said early-stage teething issues had resulted in only 8715 of the planned 20,000 migrations being completed by the end of December.
The company advises that the issues have now been resolved, however staff are no longer carrying out migrations as they’ve entered their Christmas break period.
The shortfall will instead be migrated in Q3, with a total of 22,700 migrations to be completed altogether during the January to March period.
Today’s update wasn’t all bad news, the telecommunication stock said it was on track to meet its planned 40,000 organic broadband net additions during Q2.
But, the issues with the white label migrations mean ABB won’t meet its planned 53,000 to 60,000 new additions it had forecast for Q2.
Aussie Broadband will finish the year with between 492,495 to 494,495 broadband services connected.
Company shares were up 3.93 per cent at $4.76 per share at 12:31 am AEDT.
