Singtel's losses from Group Digital Life narrows to $24m in Q1

Thanks to Amobee reporting a break even in earnings.

Singtel's Group Digital Life managed to narrow its losses for the first quarter of its financial year from $36m to $24m. 

This is due to the more than doubling of its revenue to $273m with the acquisition of Turn Inc, with Amobee reporting a break even in earnings before taxes, depreciation, and amortisation.

According to RHB, this was partly offset by the scaling up of HOOQ, its regional over-the-top (OTT) business that has a presence in four markets comprising of India, Indonesia, the Philippines and Thailand.

"GDL losses, in our view, appear on track to meet the guidance of reduced EBITDA losses of $100m for FY18 ($120m loss)," RHB said.