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SingTel losses from digital businesses widen to S$46m in Q1

Losses from the telco’s digital businesses reached S$46 million during the quarter, compared with a loss of S$32 million in the same period last year.

SINGAPORE: Singapore Telecommunications (SingTel) saw losses from its digital businesses widen during its fiscal first quarter from a year ago, even as revenues jumped more than 60 per cent.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for its Group Digital L!fe businesses widened to a negative S$46 million in the three months ended June, compared with a loss of S$32 million in the same period a year ago. Excluding new initiatives undertaken from April 2014, losses would have increased by a smaller 13 per cent, SingTel said in presentation notes filed with the Singapore Exchange.

Read: SingTel Q1 net profit down 17% on-year

Revenue from the division jumped 61 per cent to S$48 million on the back of income from strong digital advertising.

SingTel has to date invested about US$780 million in digital advertising, with key subsidiary Amobee winning new customers such as Samsung and Sony during the quarter.

Amobee offers a digital advertising platform for advertisers and publishers.

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