M1 Posts Broadly In-Line 1Q 2017 Results; Underlying Capex Reduction Offset by Higher Spectrum
M1’s first-quarter 2017 results were broadly in line with our expectations, with services revenue down 0.9% year on year, EBITDA down 5.1%, and EPS down 14.1%. Excluding a small one-off gain on asset sales that decreased other expenses, EBITDA would have been down 8% and EPS down 21%. Management continued to provide no earnings guidance, having been forced to downgrade its 2016 guidance several times through 2016, but did reduce 2017 capital expenditure guidance to SGD 150 million, from SGD 170 ...M1 is a communications company, providing mobile and fixed services to customers. Co. is an operator that provide fourth generation (4G) service, as well as fixed broadband, fixed voice and other services on the Next Generation Nationwide Broadband Network. Co. and its subsidiaries are engaged in the provision of telecommunications services, international call services and fixed services, retail sales of telecommunication equipment and accessories, and customer services. Co. makes available to its mobile and fixed-line customers International Direct Dial services through the 002 and 021 prefixes, as well as a International Calling Card service using prefix 1818.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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