Over the last few years, online video-sharing and content platforms have taken the world by storm.
For example, Netflix Inc (NASDAQ: NFLX) and Alphabet Inc’s (“Google”) (NASDAQ: GOOGL) YouTube are common pastimes in today’s world.
The COVID-19 pandemic has hastened the shift to online content as people spend more time indoors.
This shift has affected traditional cable television providers such as StarHub Ltd (SGX: CC3).
Year to date, the telecommunication company’s (“telco”) share price has fallen by slightly more than 7% to S$1.32 from S$1.42.
Having said that, cable TV is but one of the services provided by the Singaporean telecommunications giant.
Earlier this month, StarHub announced a business update for its third-quarter earnings.
We break down StarHub’s report to decipher how its individual business segments have fared in the third quarter of 2020.
Overall business
StarHub announced a 23.3% drop in net profits to S$44.5 million during the quarter, down from S$58.0 million a year back....