Chunghwa Telecom Reports Mixed Q2 Segment Results, Aided By Mobile And Broadband, Expands Margins

Chunghwa Telecom Co Ltd CHT reported second-quarter FY21 revenue growth of 3.8% year-on-year to NT$49.60 billion. The Basic EPS was NT$1.15.
Mobile communications revenue increased by 3.2% Y/Y to NT$21.77 billion due to increased handset sales revenue and mobile service revenue.
Internet revenue increased 4.8% Y/Y to NT$7.79 billion.
Domestic fixed communications revenue declined by 0.5% Y/Y to NT$15.61 billion, mainly due to lower local and DLD service revenue primarily driven by the increased mobile and VoIP substitution, offset by the increase of broadband access revenue.
International fixed communications revenue decreased by 0.4% Y/Y to NT$2.17 billion.
FTTx subscribers reached 3.65 million as of Jun. 30. HiNet broadband subscribers remained flat Y/Y at 3.60 million.
Chunghwa Telecom's mobile subscribers rose 3.7% Y/Y to 11.49 million. It had 9.79 million fixed-line subscribers.
The operating margin expanded 40 bps to 22.6%. The EBITDA margin expanded 137 bps to 41.89%.
It generated NT$17.9 billion in operating cash flow. The company held NT$32.1 billion in cash and equivalents.
The accumulated number of 5G sign-ups exceeded 1 million at the end of the quarter, ahead of schedule, and the company expects to reach 2 million sign-ups by the end of this year.
It accelerated 5G deployment and accumulated over 8,000 base stations by quarter-end, expecting to approach 12,000 base stations by the end of this year.
Price action: CHT shares closed higher by 0.60% at $41.67 on Thursday.

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