Chunghwa Telecom Co (中華電信), the nation’s largest telecom, yesterday posted a net profit of NT$8.32 billion (US$276.38 million), or earnings per share of NT$1.07, a 0.4 percent year-on-year decline that saw its earnings per share fall behind long-term rival Taiwan Mobile Co (台灣大哥大).
Revenue in the first quarter fell 6.2 percent year-on-year to NT$48.15 billion, operating income grew 1.2 percent to NT$10.53 billion, while pretax profit increased 1.3 percent to NT$10.69 billion.
While blaming the decline on weaker sales of smartphones, fewer enterprise and government projects, as well as falling demand for international data and mobile services, the company said that the results still surpassed its expectations.
Taiwan Mobile Co yesterday posted a net profit of NT$3.32 billion for last quarter, or earnings per share of NT$1.18, a 7.9 percent year-on-year increase.
Revenue in the first quarter of the year increased 6.6 percent year-on-year to NT$31.85 billion.
Taiwan Mobile chief financial officer Rosie Yu (俞若奚) attributed the growth to an increase in contributions from its subsidiary Momo.com Inc (富邦媒體), which specializes in e-commerce.
Boosted by a spike in sales last month, the online retailer yesterday posted a 28.7 percent year-on-year surge in revenue to NT$15.11 billion for last quarter.
“Sales of cloud-based and Internet of Things services, and domestic leased circuits are growing,” Yu said about the company’s telecom business.
“Revenue and operating income have continued to grow over the past three quarters,” she said, adding that the first-quarter results had fulfilled the company’s expectations.
Meanwhile, Far EasTone Telecommunications Co (遠傳電信) yesterday posted a net profit of NT$2.17 billion, or earnings per share of NT$0.67, a 2.69 percent year-on-year decline.
Revenue fell 6.87 percent year-on-year to NT$19.39 billion.
The company said that its first-quarter sales missed its expectations by 3 percent after shipments of smartphones were negatively affected by the COVID-19 pandemic.
However, the telecom reported an 87 percent increase in sales from enterprise and government projects for last month, as well as a 155 percent increase in sales related to cybersecurity tools.
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