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Nikkei Markets

StarHub shares find favor after upside surprise from earnings

Cost cuts help but pressure on mobile, TV revenue remains

A man talks on his mobile phone as he walks past a StarHub shop in Singapore.   © Reuters

SINGAPORE (Nikkei Markets) -- Investors have warmed to StarHub following its quarterly results, which were well above expectations partly due to cost cuts. But a recovery is far from assured for Singapore's second-largest telecommunications company as it grapples with pressures from the intensely competitive mobile phone and pay TV markets.

Shares of StarHub surged 8.3% in Wednesday's trading session after it posted a 1.7% year on year increase in third-quarter net profit to 58 million Singapore dollars ($42.8 million). The profit handily beat the consensus estimate of S$40 million in a Refinitiv poll and was also an improvement on the second quarter's S$39.5 million.

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