StarHub’s Q3 net profit falls 11%

StarHub’s Q3 net profit falls 11%

A man walks past the StarHub logo sign in Singapore. (Photo: AFP)

SINGAPORE: StarHub said on Thursday (Nov 2) that its third-quarter net profit fell 11 per cent to S$77 million from the same period last year, as a result of lower service revenues from mobile, Pay TV and broadband services.

Total revenue fell 0.8 per cent to S$580.4 million, the telco said.

By segment, mobile service revenue decreased 0.8 per cent to S$297.0 million, mainly because of lower voice, IDD and outbound roaming usage. This was partially mitigated by increased usage of data, coupled with higher revenue from mobile value-added services, the telco said.

Pay TV service revenue fell 8.5 per cent, while broadband service revenue was lower by 2.8 per cent, primarily due to a lower subscriber base.

As of end-September, post-paid mobile subscriber base stood at 1.36 million subscribers, after the quarter’s net churn of 23,000 subscribers.

StarHub had 895,000 pre-paid mobile customers as of the end of September, after the quarter’s net churn of 10,000 customers.

“In the mobile business, we face downward pressures for voice, roaming and IDD while subscription and mobile data will continue to contribute to revenue growth,” StarHub said in a stock exchange statement after market hours.

“In our Pay TV business, we are focusing on StarHub Go (our OTT offering) and using customer data analytics to determine suitable quality content for acquisition and renewal. Content will be rationalised as part of ongoing renewals. Challenges remain from growing piracy and alternative viewing options,” it added.

Source: CNA/aj