The net profit of major telecom operators, including Chunghwa Telecom Co (中華電信), edged lower last month following the debut of 5G services.
Chunghwa Telecom on Monday reported net profit contracted 6.71 percent to NT$2.78 billion (US$94.14 million) last month, from NT$2.98 billion in June, ending four consecutive months of growth. Earnings per share (EPS) dropped to NT$0.36 from NT$0.38.
However, Chunghwa Telecom’s revenue advanced 2 percent month-on-month to NT$16.3 billion from NT$15.98 billion.
On an annual basis, its net profit rose 2.2 percent from NT$2.72 billion, or EPS of NT$0.35, after operating expenses fell 4.7 percent to NT$12.76 billion from a year earlier. Revenue shrank 2.4 percent annually from NT$16.7 billion.
Chunghwa Telecom said that its financial results in the first seven months “exceeded its expectations,” with net profit totaling NT$19.64 billion, little changed from a year earlier, and EPS of NT$2.53.
The company earlier predicted net profit this year would contract as much as 5.8 percent annually.
Taiwan Mobile Co’s (台灣大哥大) net profit last month edged lower to NT$1.028 billion, from NT$1.03 billion a month earlier, with EPS of NT$0.35. Revenue dropped 2.07 percent to NT$10.38 billion last month from NT$10.67 billion in June.
Taiwan Mobile said that its performance in the first seven months was in line with its expectations, as net profit dropped just 1 percent annually to NT$7.39 billion, or EPS of NT$2.63.
The company’s operating income shrank 1 percent in the January-to-July period as it started booking depreciation and amortization costs from its investment in 5G bandwidth.
Cumulative revenue grew 5.4 percent to NT$73.58 billion in the first seven months, primarily due to strong growth from its e-commerce subsidiary Momo.com Ltd (富邦媒體), Taiwan Mobile said.
Far EasTone Telecommunications Co’s (遠傳電信) net profit fell 0.39 percent to NT$763 million last month, from NT$766 million in June, or an EPS slide to NT$0.23 from NT$0.24.
However, revenue grew 1.95 percent to NT$6.28 billion from NT$6.16 billion a month earlier.
Far EasTone’s net profit in the first seven months rose 0.39 percent to NT$5.17 billion from NT$5.15 a year ago, while revenue declined 7.7 percent to NT$44.34 billion from NT$48.04 billion.
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