- POSTED: 14 Aug 2014 11:08
- UPDATED: 14 Aug 2014 11:38
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.
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.