- StarHub (SGX:CC3)'s 1Q24 reported earnings (including D’Crypt) increased 4% y-o-y/9% q-o-q, achieving 23-24% of Maybank and Street full-year forecasts. Core earnings (excluding D’Çrypt) improved 8% y-o-y.
- - Read this at SGinvestors.io -
Earnings grew by a faster pace than top-line
- Despite slower top-line growth, StarHub's earnings grew by a faster pace, helped by efficiency realization from its earlier Dare+ investments.
- StarHub has pushed forward DARE+ investments in FY24E which means higher oepx/capex but should also mean earlier efficiency realizations.
1Q24: consumer-side softness
- - Read this at SGinvestors.io -
- Broadband revenues declined 1% y-o-y as the company exited tactical promotions.
- Entertainment revenues fell 4% y-o-y owing to expiry of over-the-top (OTT) content passes.
Enterprise growth offset the consumer weakness
- Read more at SGinvestors.io.
