StarHub's Q3 earnings dip despite fall in costs

STARHUB'S third-quarter net profit slipped one per cent to $95.3 million, as a shrinkage in revenue just about outpaced the decrease in expenses.

Operating revenue for the quarter ended Sept 30, 2013, stood at $578.8 million, 1.2 per cent lower, because of lower equipment sales.

Service revenue was flat year-on-year, gaining 0.2 per cent to $556.1 million, while equipment sales revenue plunged 26.3 per cent to $22.7 million as the telco moved fewer handsets.

Yesterday, the company also lowered its outlook for operating revenue for the full year, and now expects it to be lower than 2012's. Previously, it had forecast a low single-digit growth in 2013. Service revenue, however, is slated to be flat, which means that the drop will be …