Net Profit Forecast
According to a FactSet poll of analysts, StarHub, the Singapore telecom operator, is expected to see a significant increase in its net profit for 2023. The median estimate suggests that the net profit will nearly double to SGD 139.7 million (US$103.9 million), bringing it closer to its 2021 level of SGD 149.3 million. In the first nine months of the year, the net profit already saw a 29% rise from the previous year, reaching SGD 114.0 million.
The annual revenue for StarHub is estimated to have grown by 2.6% to SGD 2.39 billion, according to the FactSet poll. In the first nine months, the revenue saw a 4.8% increase from the previous year, amounting to SGD 1.73 billion.
During the fourth quarter, the stock remained flat and is currently trading at SGD 1.07.
What to Watch:
- StarHub's 2024 guidance will be of great interest to investors. Analysts predict stronger earnings in FY24 due to stabilized operating costs and further growth from roaming revenue.
- The divestment of StarHub's hardware-security subsidiary, D'Crypt, is expected to enhance the company's recurring revenue mix from cybersecurity operations, according to CGS-CIMB analysts.
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