- SingTel’s 1QFY24 (Apr to Jun 2023) results were within expectations, with macroeconomic headwinds and strong S$ weighing on revenue and EBITDA while Optus’ opex spiked from higher energy cost. The twin growth engines (NCS and Digital InfraCo) are performing well, with EBIT up 17% y-o-y.
- - Read this at SGinvestors.io -
SingTel's 1QFY24 broadly in line.
- SingTel (SGX:Z74)'s 1QFY24 core earnings of S$571m made up 22 % of our forecast (consensus: 24%). We deem this as being in line with expectations of a further normalisation in roaming traffic, continuing mobile price repair in Australia, and NCS’ contributions gaining momentum in subsequent quarters.
- - Read this at SGinvestors.io -
- The standouts were NCS and Digital InfraCo’s good topline growth of 14% and 17% y-o-y, which more than offset SingTel’s weaker revenues from Singapore and Optus.
Roaming dials back.
- Read more at SGinvestors.io.
