Singtel's First-Quarter Profit Rose
By Amanda Lee
Singapore Telecommunications' net profit rose in the first quarter, due to a net exceptional gain.
Net profit for the first quarter ended June rose 43% to 690 million Singapore dollars (US$524.1 million), the mobile network operator said Thursday.
Exceptional gains arose mainly from the dilution of Singtel's effective equity shareholding in Airtel, tower sales by key associate Globe and share of Bharti Airtel's net exceptional gains, the company said.
Operating revenue fell by 2.15% to S$3.41 billion, due to the absence of contributions from the deconsolidation of former cybersecurity unit Trustwave, the company said.
Singtel said it forecasts "high single digit to low double digits" earnings before interest and taxes for the full year.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
August 14, 2024 20:29 ET (00:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
The 10 Best Companies to Invest in Now
-
New 4-Star Stocks
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
United States