The NBN Co's revenue is up 158%

The NBN Co’s third quarter results for the year are out, with revenue up 158% to $275 million in total and 338,841 new customers using the broadband network.

Importantly, average revenue per user is also up nearly 10% from where it was a year ago, going from $40 to $43.

As reported yesterday, total premises ready for service at the end of the quarter is 2.001 million, while premises with active connections are less than half of that at 902,948.

The majority of connections at this stage are still mostly fibre-to-the-premise, followed by fixed wireless and fibre-to-the-node.

Of these connections, the most popular speed tier is the second slowest offering of 25mbps download and 5mbps upload.

Interestingly, popularity for the fastest tier of speeds has dropped from 19% of connections in March last year to 15% of connections this year.

This is due to a variety of factors, including fibre-to-the-node connections going live, which users have reported heavy congestion with. But the main reason is likely due to Telstra, which has the most NBN customers, advertising customers’ base NBN plans and charging more than other ISPs for faster speeds.

The NBN says it is on target to hit 2,632,000 premises by the end of June 2016, however it only expects around 50,000 more customers to sign up to the network in that same time. Total revenue at that point is expected to be $300 million.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.