Taiwan’s three major telecoms yesterday reported that revenue grew annually last month on increased demand for mobile and broadband services, as working from home, online shopping and distance learning became new norms amid a nationwide level 3 COVID-19 alert.
Chunghwa Telecom Co (中華電信) said that revenue inched up 1.4 percent to NT$16.34 billion (US$589.81 million) from NT$16.11 billion in May last year, bringing the company’s revenue for the first five months of this year to NT$82.78 billion, up 3.5 percent from NT$79.98 billion in the same period last year.
“As mobile users subscribed to more upscale plans, mobile service revenue continued to grow,” Chunghwa Telecom said in a statement.
Photo: Taipei Times
“The COVID-19 pandemic helped boost demand for devices needed amid a stay-at-home economy, contactless transactions, and digital and smart applications, fueling demand for data and broadband Internet connections,” the firm said.
Net profit grew 5.7 percent to NT$2.96 billion last month from NT$2.8 billion a year earlier, the company said.
During the January-to-May period, net profit climbed 5.6 percent to NT$14.66 billion from NT$13.88 billion a year earlier, with earnings per share rising from NT$1.79 to NT$1.89, Chunghwa Telecom said.
Revenue at Taiwan Mobile Co (台灣大哥大) jumped 25 percent to NT$13.5 billion from NT$10.82 billion a year earlier, due to strong growth from online shopping, 5G mobile services and household broadband connections, the firm said in a statement.
The number of 5G service subscribers increased to 700,000 last month, it said.
Online shopping revenue generated at its subsidiary Momo.com Inc (富邦媒體) accounted for 60 percent of its revenue last month, Taiwan Mobile said.
The company accumulated NT$60.05 billion in revenue in the first five months, up 14.21 percent from NT$52.58 billion in the same period last year.
However, net profit dipped 13.6 percent annually to NT$890 million last month from NT$1.03 billion, and total net profit in the first five months declined 14 percent to NT$4.58 billion from NT$5.33 billion, with earnings per share falling from NT$1.9 to NT$1.63, it said.
Revenue at Far EasTone Telecommunications Co (遠傳電信) rose 1.36 percent year-on-year to NT$6.46 billion last month, as it benefited from increased adoption of 5G mobile services and higher smartphone sales, the company said.
Demand for mobile services remained strong, while demand for cloud-enabled services, computer and information communication technology services, online shopping and telemedicine increased, it said.
In the first five months, revenue expanded 5.49 percent to NT$33.65 billion from NT$31.9 billion in the same period last year.
However, net profit dropped 14.21 percent annually to NT$652 million last month from NT$760 million for May last year.
During the first five months of this year, net profit contracted more than 14 percent annually to NT$3.11 billion, with earnings per share of NT$0.95.
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