StarHub’s net profit jumps by 6% to $103.7m in 3Q

Its surging broadband revenue spearheaded the growth.

The three-quarter surge of its broadband business more than overshadowed the telco’s glaring mobile and pay TV weakness, reflecting a stabilisation in its average revenue per user.

According to analysts from Maybank Kim Eng, the member of Singapore’s telco triumvirate’s service revenue rose by 1%, in line with guidance of low single digit growth. Its Fixed Network also benefited from its growing enterprise content.

However, the 6% growth does not include a $15m operating gain from the dilution of its MediaHub project from 100% to 30%.

Meanwhile, Starhub lowered guidance for service revenue from low single-digit to flat, due to the stagnation of mobile growth.

“We had expected 75% penetration before stagnation appeared,” Maybank Kim Eng said.

“But we remain optimistic on a Broadband turnaround and continued growth of Fixed Network Services as StarHub pushes forward with its own fibre network and solutions for the enterprise sector,” the report added.

Also Read

Singapore emerges as world’s 2nd most expensive data centre market

SIAS urges NeraTel shareholders to reject Ennoconn Corp's mandatory offer

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit