The COVID-19 pandemic has negatively impacted the performance of telecommunication companies (telcos).
StarHub Ltd (SGX: CC3) is no exception.
The telco recently reported its second-quarter 2020 earnings, and it was not a pretty picture.
Here are five things you should know about StarHub’s latest numbers.
Weaker set of financials, lower dividend
StarHub reported a downbeat set of results for the second quarter.
Total revenue was down 18% year on year to S$453.4 million, but operating profit declined by 9.5% year on year due to the presence of other income as a buffer.
Profit attributable to shareholders fell by 5.6% year on year to S$37.3 million.
For the first half of 2020, the fall was steeper, with operating profit falling 14.1% year on year and net profit declining by 17.2% year on year.
The group’s cash balance had S$480.2 million in cash, along with gross debt of S$1.21 billion....
