Last quarter, I blogged about Shit to Gold - Starhub on its way to recovery. Yesterday, Starhub announced a business performance update for Q1 2020. Hence, I decided to continue track Starhub's progress, especially during this difficult time amidst a virus pandemic.
Overall, the performance displays the immense challenges facing the telco business but there is some consolation from a slight improvement and stabilization in the financial position of Starhub.
Highlights:
Revenue decreases 15.2% to $506.2m
Q1 2020 Net Profit decreases 25.7% to $40.2m
Q1 2020 Net Profit actually increases 20% q-o-q from $33.3
Q1 2020 Free Cash Flow increases to $118.9m
Continued declines in Revenue and ARPU for Mobile, Pay TV and Broadband
Continued growth in Revenue from Enterprise and Cybersecurity
Received 5G license from IMDA on 29 Apr 2020
Financial reporting is changed from quarterly to bi-annually so dividends payout will no longer be quarterly
Having shared before, Starhub is one of my initial investments when I started to...