Singapore Telecommunications Ltd. (ST), Southeast Asia’s biggest phone company, posted first-quarter profit that missed analyst estimates as currency moves and lower sales at its Australian unit cut earnings.
Net income rose 3.2 percent to S$945.3 million ($759 million) in the three months ended June 30 from a year earlier, the company known as SingTel said in a statement today. That compares with the S$974.3 million average of three analyst estimates compiled by Bloomberg.
Increased sales in Singapore, where the former government agency has about 46 percent of the mobile-phone market, was offset by falling sales at its Australian Optus unit, where customers canceled contracts and bought less equipment, SingTel said. Full story
Related:
SingTel shakes off Optus decline - Financial Review
SingTel First-Quarter Misses Estimates on Currency Impact - Bloomberg
