Severe broadband battle takes a bite out of StarHub's Q1 results

Revenue was stuck despite more subscribers.

StarHub’s muted first quarter results can be blamed on the intense competition in Singapore’s broadband space, a report by OCBC Investment Research stated.

The telco reported that broadband revenue fell 11% to $48.1m in the quarter, dragged by intense price competition in the fibre space.

OCBC further noted that although StarHub managed to add another 4k new subscribers in the quarter, ARPU was stuck at $33/month, suggesting that subscribers continued to take up the
lower price plans.

“The intense competition in the Broadband space was the main reason for the muted showing. However, we believe that the worst could be over as we do not envision the basic plans falling below S$30/month,” OCBC stated.