Chunghwa Telecom Co., Ltd., a leading telecommunications company, has announced its unaudited operating results for the first quarter of 2024. Despite a challenging economic climate, Chunghwa Telecom has achieved significant growth across its various business groups.
Total revenue for the first quarter of 2024 increased by 1.4% to NT$ 54.94 billion. The Consumer Business Group experienced a revenue increase of 1.7% to NT$ 34.62 billion, driven by strong growth in mobile services and an increase in postpaid subscribers. The Enterprise Business Group saw a slight decrease of 0.9% in revenue to NT$ 16.95 billion, but when excluding a one-time item, revenue actually increased by 1.9%. The International Business Group achieved an impressive 13.3% revenue growth to NT$ 2.41 billion.
Operating costs and expenses increased by 2.4% to NT$ 43.03 billion, primarily due to higher manpower and ICT project costs. Operating income decreased by 2.2% to NT$ 11.91 billion, while EBITDA decreased by 1.1% to NT$ 21.82 billion. Net income attributable to stockholders of the parent also saw a 2.6% decrease to NT$ 9.39 billion.
Despite these challenges, Chunghwa Telecom remains optimistic about the future. The company’s Chairman and CEO, Mr. Shui-Yi Kuo, expressed confidence in their strategic execution and the dedication of their team. He highlighted the company’s record-breaking revenue and income before tax for the first quarter of 2024, as well as their expanded market share and robust growth.
Chunghwa Telecom’s Consumer Business Group saw growth in all primary operations, driven by the ongoing transition to 5G and an increase in multiple-play package subscriptions. The Enterprise Business Group’s revenue also grew, especially in big data analysis, which experienced a remarkable 71.6% year-over-year expansion. The International Business Group achieved double-digit growth in both revenue and income before tax, demonstrating the increasing demand for international ICT projects.
Chunghwa Telecom is committed to embracing AI-driven transformation, enhancing its operations, and delivering superior services to its clients. The company is also dedicated to promoting low-carbon sustainable practices and reducing its carbon emissions.
With a strong start to 2024, Chunghwa Telecom is confident it can capitalize on its momentum to achieve continued success in the years to come.
Despite a challenging economic climate, Chunghwa Telecom Co., Ltd., a leading telecommunications company, reported strong financial results for the first quarter of 2024. Total revenue increased by 1.4% to NT$ 54.94 billion, driven by growth in the Consumer Business Group, which experienced a revenue increase of 1.7% to NT$ 34.62 billion. This growth was attributed to strong performance in mobile services and an increase in postpaid subscribers. The Enterprise Business Group saw a slight revenue decrease of 0.9% to NT$ 16.95 billion, excluding a one-time item, revenue actually increased by 1.9%. The International Business Group achieved an impressive 13.3% revenue growth to NT$ 2.41 billion.
Operating costs and expenses increased by 2.4% to NT$ 43.03 billion, mainly due to higher manpower and ICT project costs. Despite this, operating income decreased by 2.2% to NT$ 11.91 billion, and EBITDA decreased by 1.1% to NT$ 21.82 billion. Net income attributable to stockholders of the parent also saw a 2.6% decrease to NT$ 9.39 billion. These challenges indicate the ongoing pressures in the telecommunications industry.
Chunghwa Telecom remains optimistic about the future and is confident in their strategic execution. The company’s Chairman and CEO, Mr. Shui-Yi Kuo, emphasized their record-breaking revenue and income before tax for the first quarter of 2024, as well as their expanded market share and robust growth.
One of the key advantages for Chunghwa Telecom is its strong performance in the Consumer Business Group, driven by the ongoing transition to 5G and an increase in multiple-play package subscriptions. This indicates their ability to capitalize on emerging technologies and offer attractive services to their customers. Additionally, the Enterprise Business Group’s growth in big data analysis showcases their ability to provide valuable services in this field, with a remarkable 71.6% year-over-year expansion. The International Business Group’s double-digit growth in both revenue and income before tax highlights their success in international ICT projects, demonstrating market demand in this area.
However, there are several key challenges and controversies associated with the subject. One pressing question is how Chunghwa Telecom plans to navigate the competitive telecommunications market, as they face increasing competition from both domestic and international players. Maintaining market share and profitability in such a competitive landscape will require constant innovation and adaptation to customer needs.
Furthermore, the ongoing pandemic and economic uncertainty present challenges for Chunghwa Telecom and the telecommunications industry as a whole. Supply chain disruptions, reduced consumer spending, and potential delays in network infrastructure projects could hinder growth prospects in the short term.
In terms of market trends, the transition to 5G technology continues to be a major driver for telecommunications companies. Chunghwa Telecom’s strong performance in this area indicates their ability to capture the benefits of this transition. Additionally, the growing demand for big data analysis and international ICT projects presents opportunities for the company to provide valuable services.
Looking ahead, Chunghwa Telecom is committed to embracing AI-driven transformation, enhancing operations, and delivering superior services to its clients. They also aim to promote low-carbon sustainable practices and reduce carbon emissions, aligning with growing environmental concerns.
For more information, you can visit Chunghwa Telecom’s official website at link name