Narrow-Moat StarHub's Second-Quarter 2016 In Line; Government Grants Lingering Longer
StarHub’s second-quarter 2016 result was broadly in line with our expectations, with services revenue increasing by 0.6% and EBITDA down 1.3% on the prior corresponding period. Management tweaked its 2016 guidance, guiding service revenue to be close to 2015 levels, with an EBITDA margin of around 32% of service revenue; the previous guidance had low-single-digit service revenue growth and the EBITDA margin declining to 31%. The net outcome is little change to forecast earnings, implying a sligh...StarHub is a fully-integrated info-communication company based in Singapore. Co. offers a full range of information, communications and entertainment services for both consumer and corporate markets. Co. operates a two-way 3.5G mobile network that delivers up to 14.4 Mbps for downlink (with HSPA+ coming soon) to complement its nation-wide GSM network, and an island-wide HFC network that delivers multi-channel cable TV services (including High Definition Television and on-demand services) as well as ultra-high speed residential broadband services. Co. also operates an extensive fixed business network that provides a wide range of data, voice and wholesale services.
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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