SingTel, StarHub post strong Q3 earnings growth

Singapore's two largest operators, SingTel and StarHub, both reported healthy earnings growth during the September quarter, with SingTel lifting its net profit 19%.
 
Incumbent SingTel recorded an underlying net profit of €457 million, from strong gains in its two main businesses.
 
Revenue from its Singaporean operations increased 8.2% to €692 million ( S$1.44b), while its Australian subsidiary Optus generated revenue of S$2.66 billion - a 4% increase, but a 7.4% increase in local currency.
 
These increases were spurred by strong growth in the mobile operations of both markets. Mobile revenue in Singapore grew 7.9% to S$384 million, with SingTel attracting 30,000 new postpaid subscribers during the quarter.
 
Optus boosted its mobile revenue 12% to A$1.38 billion ($1.28 billion), adding 223,000 mobile and wireless broadband subscribers.
 
SingTel's international affiliates contributed to 13.9% of the company's bottom line, up over two percentage points from the year before.
 
The associates – which include India's Bharti Airtel, Indonesia's Telkomsel and Thailand's AIS - kicked in a combined S$571 million, up 32% from a year ago.
 
StarHub meanwhile lifted its profit 7.1% to S$85.2 million during the same period, while its revenue increased 2.4%to $537.1 million.
 
Revenue from its mobile, pay TV and fixed network services operations all increased, with mobile intake growing 4.7% to S$276.8 million. But broadband revenue fell 6.1% to S$58.8 million.
 
The company increased its mobile subscriber base 8.1% to 1.85 million, its Pay TV customer base 2.9% to 535,000, and its broadband subscriber base 7.3% to 392,000.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.