StarHub's Profit Likely Doubled in 2023 -- Earnings Preview

Dow Jones02-07

By Amanda Lee

StarHub is scheduled to report its full-year results on Thursday. Here is what you need to know:

NET PROFIT FORECAST: The Singapore telecom operator's 2023 net profit is expected to roughly double to 139.7 million Singapore dollars (US$103.9 million), according to the median estimate in a FactSet poll of analysts. That would bring it closer to its 2021 level of S$149.3 million. Through the first nine months of the year, net profit rose 29% from a year ago to S$114.0 million.

REVENUE FORECAST: Annual revenue is estimated to have risen 2.6% to S$2.39 billion, according to the FactSet poll. Through the first nine months, revenue rose 4.8% from a year earlier to S$1.73 billion.

The stock was flat in the fourth quarter and recently traded at S$1.07.

WHAT TO WATCH:

--Investors will be looking at StarHub's 2024 guidance. "Expectations are for stronger earnings in FY24 as operating costs stabilize, and further growth from roaming revenue," said Paul Chew, head of research at Phillip Securities Research.

--StarHub's divestment of hardware-security subsidiary D'Crypt could improve the telecom company's recurring revenue mix from cybersecurity operations, CGS-CIMB analysts said in a recent note.

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

February 07, 2024 04:02 ET (09:02 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Here is what you need to know: \n\n\n \n\n\n  NET PROFIT FORECAST: The Singapore telecom operator's 2023 net profit ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CC3.SI","symbol_name":"星和","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2409212693","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2409212693","pubTimestamp":1707296520,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"StarHub is scheduled to report its full-year results on Thursday. Here is what you need to know:. 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Here is what you need to know: \n\n\n \n\n\n  NET PROFIT FORECAST: The Singapore telecom operator's 2023 net profit is expected to roughly double to 139.7 million Singapore dollars (US$103.9 million), according to the median estimate in a FactSet poll of analysts. That would bring it closer to its 2021 level of S$149.3 million. Through the first nine months of the year, net profit rose 29% from a year ago to S$114.0 million. \n\n\n  REVENUE FORECAST: Annual revenue is estimated to have risen 2.6% to S$2.39 billion, according to the FactSet poll. 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