enterprise fixed

StarHub's 1Q earnings fall 14.9% to $61.5 mil on lower sales

SINGAPORE (May 3): StarHub reported a 14.9% decline in 1Q18 earnings to $61.5 million from $72.3 million a year ago on lower sales.

The telco was expected to reported earnings of $69.5 million, according to Thomson Reuters.

Total revenue for the quarter fell 4.7% to $561 million from $588.7 million in 1Q17. This came on the back of 7.1% and 10% revenue declines in the Mobile and Pay TV segments to $205.1 million and $80.7 million, respectively.

StarHub’s unsurprising 1Q results continue to forebode challenges ahead

SINGAPORE (May 4): OCBC Investment Research and UOB Kay Hian are maintaining their “sell” and “hold” recommendations on StarHub at a respective target price of $2.40 and $2.98.

This despite 1Q17 earnings coming in line with expectations from both houses.

To recap, StarHub on Wednesday reported $73.1 million in earnings for the 1Q ended March, representing a 21.3% decline from its earnings a year ago in spite of seeing a 0.2% growth in revenue to $592.3 million.

StarHub posts 21% decline in 1Q earnings to $73 mil on higher expenses, lower other income

SINGAPORE (May 3): StarHub reported $73.1 million in earnings for the 1Q ended March, 21.3% lower as compared to $92.8 million reported the year before on the back of higher operating expenses and lower other income.

Revenue for the quarter grew 0.2% on-year to $592.3 million from $590.9 million in the previous year.

Broadband service recorded higher revenue at $54 million during the quarter from an increased mix of customers taking fibre plans.

Average revenue per user (ARPU) also rose $1 increase to $37 in 1Q.

StarHub says no intention of merging with M1

SINGAPORE (March 31): Maybank Kim Eng Research continues to rate StarHub at “sell” at an unchanged price target of $2.49, foreseeing turbulent times ahead for the local telco despite it announcing a game plan to manage recent changes in the industry.

In a report on Thursday, analyst Gregory Yap recalls how StarHub’s management expects the group’s EBITDA margin to fall to 26-28% this year from over 30%, as NBN adoption grants will fade and handset subsidies will grow due to two big handset launches this year as well as subscriber-ring-fencing ahead of TPG Telecom’s entry.

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