StarHub earnings fall 6.3% in Q2

STIFF competition in the broadband space made itself felt in StarHub's second quarter, even as the operator revised its full-year service revenue outlook yesterday to take the tougher broadband market into account.

Net profit for the quarter ended June 30 came in 6.3 per cent lower at S$94.3 million on lower revenue and other income. Other income was almost halved to S$5.3 million as no adoption grant income was taken up during the quarter because the current claims are "pending the regulator's certification", StarHub said.

Revenue slipped 1.8 per cent to S$576.4 million during the quarter. Of the service segments, broadband revenue was hit the hardest, falling 17.2 per cent to S$51 million as it contended with price competition from other smaller outfits.