- We see StarHub (SGX:CC3)’s risk-reward profile as largely balanced, with attractive above 6% dividend yields lending support to StarHub's share price.
- - Read this at SGinvestors.io -
Broadly in line.
- StarHub released its 3Q24 business performance update yesterday. Net profit of S$40.4m (+11% y-o-y, -7% q-o-q) took 9M24 earnings to S$122.5m (+8% y-o-y) or 76-77% of our and Street numbers.
- - Read this at SGinvestors.io -
Enterprise the bright spot; improving mobile market share.
- Service revenue growth (9M23: flat) was expectedly led by enterprise but offset by declines across the mobile, broadband, and entertainment wings.
- The drag from mobile (-0.8% q-o-q) was nonetheless lower than SingTel (SGX:Z74)’s mobile service revenue contraction of 4% q-o-q, suggesting mobile revenue share gains.
- Broadband revenue grew 3% q-o-q on higher subs and APRU, with increased take-ups of higher-speed packages. Enterprise revenue (excluding D’Crypt) gained 5.4% year-to-date, led by regional ICT and cyber-security revenues.
DARE+ coming to a close; benefits likely to be backloaded.
- Read more at SGinvestors.io.
