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StarHub Ltd CC3 Stock Quote

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Morningstar‘s Stock Analysis CC3

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StarHub’s Second Quarter Ahead, but 5G, DARE+, and Premier League Costs to Hit Second Half

Dan Baker Senior Equity Analyst

Analyst Note

| Dan Baker |

StarHub’s second-quarter 2022 result was ahead of our estimates and full-year guidance with services revenue up 12.6% year on year, EBITDA down 2%, and net profit down 16.6%. However, StarHub’s full-year 2022 guidance was unchanged and implies around 20%-22% decline in EBITDA with management citing costs associated with the DARE+ program, accelerated 5G rollout costs and costs associated with the Premier League all to be incurred in the second half. Revenue growth was helped with the JOS acquisition consolidated in the first quarter and the MyRepublic acquisition consolidated in the second quarter, but underlying core mobile revenue growth of 5.5% was a highlight.

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Key Statistics CC3

Company Profile CC3

Business Description

StarHub is one of three main telecommunications providers in Singapore offering products covering mobile, broadband, fixed voice, and pay television. StarHub operates a mobile network. The company's fixed network spans domestic and international backhaul. It used to reach residential premises with a hybrid fiber-coaxial network, which has now been replaced with the National Broadband Network. The Singapore government retains an indirect 57% stake through Temasek Holdings, while NTT Communications also holds a strategic 10% stake.

67 Ubi Avenue 1, No. 05-01 StarHub Green
Singapore, 408942, Singapore
T +65 68255000
Industry Telecom Services
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2022
Stock Type
Employees 3,274