Notably, the group’s mobile segment revenue took a hit from the Covid-19 pandemic, booking a decline of 15% to $163.5 million due to lower postpaid and prepaid mobile revenues. StarHub notes that the outbreak had caused decreases in inbound and outbound tourists, as well as lower data subscriptions.
SINGAPORE (May 6): StarHub is withdrawing its financial guidance for the year after reporting earnings of $40.2 million for 1QFY2020 ended March, some 25.7% lower than earnings of $54 million a year ago.
This came on the back of a 15.2% decrease in the telco’s total revenue to $506.2 million from $596.8 million in 1QFY2019. This was due primarily to lower revenues from the group’s mobile, Pay TV, broadband and sales of equipment segments, but was partially offset by higher revenue contributions from the enterprise business segment.
