Underwhelming FY2021 results but analysts are upbeat on Singtel's prospects

Singtel on May 27 reported its FY2021 ended March results, which saw earnings fall 49% y-o-y to $544 million, while operating revenue came in at $15.6 billion, 5% lower y-o-y, reflecting NBN migration revenue tapering off for Optus’ fixed business as migrations neared completion, ongoing impact from Covid-19 and continued carriage erosion.