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StarHub posts 5.6% drop in 2Q20 earnings to $37.3 million on lower revenue

Felicia Tan
Felicia Tan • 3 min read
StarHub posts 5.6% drop in 2Q20 earnings to $37.3 million on lower revenue
StarHub has declared an interim dividend of 2.5 cents per ordinary share for the period, which will be paid on September 2.
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StarHub reported earnings of $37.3 million for the 2Q20 ended June, down 5.6% from the $39.5 million posted a year ago.

Total revenue for 2Q20 fell 18% y-o-y to $99.4 million while 1H20 total revenue fell 16.5% y-o-y to $959.6 million. The decline in figures was primarily attributable to lower contributions from StarHub’s Mobile, Pay TV, Broadband and Sales of equipment segments. This was partially offset by higher contributions from its Enterprise Business segment.

Mobile service revenue for 2Q20 remained impacted by the Covid-19 pandemic as it fell 25.4% y-o-y to $143.4 million, mainly due to lower IDD, roaming and Prepaid revenues, lower excess data usage, plan subscriptions, and VAS revenues.

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