Revenue per user was pulled down by promotions and discounted bundle packages.
Asian Pay Television Trust's (APTT) profit falls 29.4% from $16.1m to $11.4m in Q2, KGI said in a company note.
Company revenue climbed 6.2% YoY to $83.1m, due to a strengthened Taiwan dollar against the SGD. Meanwhile, distribution per unit (DPU) remained 1.6 cents.
Average revenue per user (ARPU), however, continues to slide because of promotions and discounted bundled packages. KGI said that management has insisted ARPU is stabilising.
For its premium digital cable TV segment, APTT had a net add of 10,000 revenue generating units (RGU). Its contribution grew 10% to $4m.
Meanwhile, its counterparts in the basic cable TV and broadband remained stable, with growths of 6.3% and 4.8%.
APTT said the flat broadband RGU was affected by price competition, but subscriber churn rates grew.
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