M1's Q3 earnings fall 23.4% to S$34.4m (Amended)
It says telecom services such as international calls and roaming continue to be impacted by OTT services
Singapore
A DECLINE in telecoms revenue, among other factors, contributed to a 23.4 per cent fall in M1's net profit for the third quarter ended Sept 30, 2016, the telco operator announced on Tuesday.
The company's earnings for Q3 fell to S$34.4 million, from S$44.9 million in the year-ago period. This came on the back of a 10.3 per cent drop in revenue to S$249.1 million, from S$277.6 million.
Ebitda (earnings before interest, taxes, depreciation and amortisation) for the quarter was down 13.9 per cent to S$74.6 million, from S$86.6 million last year. Earnings per share (EPS) were down 22.8 per cent t…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in