Service revenue increased by 8.9% y-o-y to $526.0 million during the three-month period, says StarHub on Nov 8, while total revenue grew 5.3% to $622.1 million for 3QFY2023 compared to 3QFY2022.
The telco’s mobile segment posted y-o-y revenue growth of 7.2% to $153.3 million in 3QFY2023, lifted primarily by higher postpaid revenue with an improved postpaid average revenue generated per user (ARPU) of $32.
Revenue for its entertainment segment also inched up by 2.4% y-o-y to $56.7 million, while “intensifying market competition” lowered revenue from StarHub’s broadband segment by 1.9% y-o-y to $62.4 million.
As at Sept 30, StarHub’s free cash flow stood at $131.4 million.
On Nov 7, the telco also announced that it will retain its Ensign Assigned Rights for two additional years until Oct 4, 2025, maintaining the group’s effective interest at 55.73%.
A mechanism has also been put in place for StarHub to potentially retain the Assigned Rights beyond the 2025 deadline through a further extension to be negotiated with Temasek, or a transfer of the Assigned Rights Shares to StarHub for a consideration to be determined.
Chief executive Nikhil Eapen says: “Cybersecurity remains core to StarHub and our DARE+ evolution to converge cloud, cybersecurity and connectivity; to drive secure multi-cloud solutions and enable Smart City use cases for our Enterprise customers.”
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“We will continue to work closely with our partners and Temasek to accelerate growth with Ensign, and to create value for all stakeholders,” he adds.
Shares in StarHub closed 1 cent or 0.95% up at $1.06 on Nov 8.
