Skype to Skype minutes grew quite well, more than 8%. However, this doesn’t generate direct revenue. The revenue comes mainly from people calling fixed or mobile lines, therefore from SkypeOut.
SkypeOut minutes grew by some 3%. But, when looking at the slope of the curve, paid minutes seem to reach some saturation level, meaning that the paying user base is slowly reaching a kind of maximum.This is reflected in the revenues, although the graph in dollars shows an increase of about 8%! Indeed, 80% of the revenue of Skype is coming from outside the USA. Therefore, the weakness of the dollar or the strength of the euro and other currencies has a positive impact on the dollar revenue.
Recalculating the financial growth of Skype in euros, it is only a 3% growth. After all, this is really quite good: very few businesses can show such a growth in only one quarter. But, what concerns me is the slowing down of the growth of SkypeOut minutes! Something has to be done on that side!
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