With a slew of blue-chip companies releasing results these few weeks, we shine the spotlight on Singtel’s (SGX: Z74) latest fiscal 2023 third quarter (3Q FY2023) business update.
Previously, we highlighted the telco’s declaration of a special dividend as it posted a respectable set of earnings for its fiscal 2023’s first half.
However, the latest business update from Singtel came in mixed.
Operating profit declined year on year but a higher share of regional associates’ net profit helped to boost Singtel’s bottom line.
These financial numbers came in better than its peer StarHub Limited (SGX: CC3), which reported a lower net profit along with reduced dividends.
We dug deeper into Singtel’s numbers and plans to determine what’s to come for the telco.
Here are five highlights that investors should note.
1. A mixed bag of numbers
Operating revenue dipped by 0.9% year on year to S$3.7 billion for 3Q FY2023 mainly due to the absence of contributions from Amobee for this quarter....