Skip to Content
Global News Select

Singtel Shares Fall After Fourth-Quarter Results Miss Estimates

By Yi Wei Wong


Singapore Telecommunications' shares declined in early Asian trade Friday, after its fourth-quarter results come in slightly weaker than consensus estimates.

The telco's shares fell as much as 4.1% to 2.43 Singapore dollars ($1.79). They are currently 2.8% lower at S$2.46, which is its third-largest percentage point drop in a year.

Singtel's earnings were a little weaker than market estimates due to a combination of factors including weaker earnings growth from associates and unfavorable foreign-exchange trends, say Citi analysts Arthur Pineda and Luis Hilado in a note.

The analysts maintained their buy rating and stock target price of S$3.04, noting that while they see near-term speed bumps due to foreign-exchange fluctuations and softer associate earnings, these pressures are unlikely to persist after 2023.


Write to Yi Wei Wong at


(END) Dow Jones Newswires

May 25, 2023 22:07 ET (02:07 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Market Updates

Our Picks