When Optus fell victim to a cyber attack in September 2022, the breach was described as one of the most damaging corporate incidents in Australian history. Personal data from millions of customers was exposed, regulators circled, class actions loomed, and above all, the company’s brand was hammered. The consensus among commentators at the time was that trust would be hard to rebuild. Many predicted customers would leave and never return.

Yet less than three years later, it's a different story. Optus’ latest financial results paint a more nuanced picture. The telco’s mobile business is not just stabilising but growing again. In the June 2025 quarter, mobile service revenue rose 4.0% year-on-year, the total customer base grew 1.8% to 10.7 million, and average revenue per user ticked higher on the back of postpaid price increases. Mobile EBITDA jumped 9.4%, with EBIT surging 36%. In other words, Optus is turning the corner — and doing it convincingly.

What sparks the rebound?

The cyber attack sparked real anger, with many customers threatening to leave. But in practice, switching telcos isn’t always straightforward. Coverage differences, bundled services, or simple inertia often keep people tethered to their provider. Even for those who did churn in the immediate aftermath, the results suggest some have quietly returned.

Price increases in postpaid plans helped drive average revenue higher, while new wholesale and enterprise agreements added ballast. These factors point to a recovery that isn’t just about winning back old customers but also about Optus finding ways to monetise its network more effectively.

History shows this cycle is not unique to Optus. Banks have bounced back after financial scandals, airlines after mass cancellations, even retailers after data breaches. The outrage can be sharp, but when a service is essential and alternatives are limited or similar, customers often forgive faster than expected. It’s not that the trust equation resets overnight — rather, convenience and price tend to trump anger over time.

There's even an example in the world of telco we can point to! Anyone else remember #Vodafail? When Vodafone customers deserted the service provider en masse over poor coverage, the brand pledged a multi-billion dollar turnaround. Eventually, customers wandered back into their big red stores to see what was on offer for them.

Optus isn't entirely out of the woods yet, however. The episode still drags on, particularly when it comes to regulators. The Australian Information Commissioner continues to pursue penalties under the Privacy Act. That process could be costly, both financially and reputationally.

Optus’ results are a reminder that reputational crises, while damaging, don’t always produce lasting financial scars. Customers may be quick to outrage, but in markets where services are sticky and competition limited, they’re often just as quick to move on.

For businesses, the lesson is sobering. The initial fallout from a crisis might not dictate the long-term trajectory. What matters is whether a company can steady the ship, maintain service quality, and rebuild confidence. Optus has shown that even after a severe breach of trust, the right combination of necessity, pricing, and network reliability can coax customers back into the fold.