- 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.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Hussaini Saifee Maybank Research | https://www.maybank-ke.com.sg/ 2024-05-15
Read also Maybank's most recent report:
2024-08-15 StarHub - A Decent Pickup In 2Q24.
Price targets by 4 other brokers at StarHub Target Prices.
Listing of research reports at StarHub Analyst Reports.
Relevant links:
StarHub Share Price History,
StarHub Announcements,
StarHub Dividends & Corporate Actions,
StarHub News Articles
