Starhub and Singtel both announced their Q3 and Q2 results respectively the past 2 days. For folks that are new to Investment Moats, analysis on the Singapore Telecom Stocks have been some of the more popular articles. [Analysis here, here, here and here ]

I won’t run through most of the fundamental numbers because telecom stocks provides results that does not deviate much from forecasts. And perhaps that is why we like about them.

As a summary here are my key take away on the 2 telecom results.

Starhub

  1. Profit was 7.6% lower while revenue was 3.6% higher
  2. Debt on balance sheet is going down. Starhub have reduced debt since last year from 810 mil to 647 mil. This reduce their interest expense. Interest expense have always been low due to favorable interest rate Starhub enjoys. debt was a worry for people that don’t like Starhub