Telecom PCCW narrows loss to $315m in H1

This improved from a $584m loss in the same period in 2020.

Telecommunications firm PCCW Limited reported its loss narrowed to $315m in the six months ending in June 2021, down from a $584m loss in the same period last year.

Its consolidated revenue was stable at $18.35b, whilst its core revenue went up by 9% to $18.14m.

In particular, the HKT total revenue climbed 7% to $15.64b, whilst its over-the-top (OTT) business revenue increased 29% to $646m.

“Our leading pan-regional OTT video service, Viu, will continue to reinforce its status as the hub of Asian content with a compelling lineup of Korean, Japanese, Chinese, and Thai dramas, and drive viewership and subscriptions through a growing collection of Viu Originals and localized content, aided by data analytics and predictive modelling of audience preferences. We look forward to achieving breakeven in the near term,” PCCW’s Group Managing Director BG Srinivas said.

He added the domestic free TV, ViuTV, will continue the production and release of quality content.

PCCW’s Free TV and Related and Solutions business revenue rose 97% to $256m and 51% to $2.88b, respectively.

Moreover, he said the PCCW will continue to grow its IP solutions suites to facilitate the digital transformation of enterprises in Hong Kon as well as Southeast Asia.

The company declared an interim dividend of 9.36 HK cents per ordinary share for the said period.