- Chunghwa Telecom Co Ltd (NYSE:CHT) reported a third-quarter FY21 revenue decline of 2.5% year-on-year to NT$50.89 billion. The Basic EPS was NT$1.21.
- Segments: Mobile communications revenue increased by 5.6% Y/Y to NT$22.84 billion, mainly due to increased handset sales and mobile service revenue.
- Internet business revenue increased 11% Y/Y to NT$8.28 billion.
- Domestic fixed communications revenue declined by 16.9% Y/Y to NT$15.66 billion, mainly due to the decrease of ICT project revenues, offset by the increase of broadband access revenue.
- International fixed communications revenue decreased by 1.5% Y/Y to NT$2.11 billion.
- FTTx subscribers reached 3.68 million as of September 30. HiNet broadband subscribers increased by 0.5% Y/Y at 3.62 million.
- Chunghwa Telecom’s mobile subscribers rose 4.1% Y/Y to 11.74 million. It had 9.73 million fixed-line subscribers.
- The operating margin expanded by 190 bps to 22.5%. The EBITDA margin expanded 289 bps to 41.4%.
- It generated NT$21.29 billion in operating cash flow. The company held NT$23.59 billion in cash and equivalents.
- In the mobile business, post-paid subscriber number and mobile service revenue continued to increase Y/Y to sustain ARPU growth.
- The launch of the Apple Inc (NASDAQ:AAPL) iPhone 13 series late in Q3 further increased the number of 5G subscribers and higher price plan adoption.
- Currently, Chunghwa has over 10,000 5G base stations operating and expects to meet its guidance of 12,000 base stations by the end of the year.
- “In addition, we are also delighted to see the ‘work from anywhere’ trend continued to enhance the growth of our broadband business as the number of 300Mbps and higher subscribers increased by 48% year-over-year. Our MOD business continued to achieve good performance as a result of our proper pricing strategy and the success of the broadcasting of the Tokyo Olympic Games,” said Chi-Mau Sheih, Chairman and CEO of Chunghwa Telecom.
- Price Action: CHT shares closed lower by 0.23% at $39.50 on Friday.
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