StarHub - DBS Research 2025-11-14: 3Q25 Earnings In Line, Mobile Revenue Recovery Is Few Quarters Away

• 3Q25 net profits broadly in line, with 9M25 comprising 77% of our full-year estimate. Mobile competition is improving gradually with a shift in the focus from S$8-10 plans to S$12-15 plans.
• StarHub (SGX:CC3) has initiated a S$60mil cost savings program over FY26F-28F whose impact will be keenly monitored by the market.

Mobile revenue may take few quarters to recover in our viiew.

• - Read this at SGinvestors.io -

Mobile competition is improving.

• - Read this at SGinvestors.io -
• On a positive note, Mobile competition is improving gradually with a shift in the focus from S$8-10 plans to S$12-15 SIM-only plans.
• In our view, StarHub is tactically aggressive in adding mobile subscribers in 2H25F before the merger approval. Post-consolidation, we expect all players to focus on growing S$20 plus SIM only plans.

Targets ~S$60mil in savings over FY26F-28F.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2026-02-19 StarHub - Big Earnings Drop In 2026 Before A Gradual Recovery In 2027.

Price targets by 2 other brokers at StarHub Target Prices.

Listing of research reports at StarHub Analyst Reports.

Relevant links:
StarHub Share Price History,
StarHub Announcements,
StarHub Dividend Payout Dates & Corporate Actions,
StarHub News