Telecom (00008) dropped more than 6% after the results. As of press release, it was down 5.52% to HK$3.94, with a turnover of HK$658.94 million.
The Zhitong Finance App learned that Telecom (00008) lost more than 6% after the results. As of press release, it had a decrease of 5.52% to HK$3.94, with a turnover of HK$658.94 million.
According to the news, PCCW announced its financial results for the year ended December 31, 2023, with revenue up 1% to HK$36.347 billion; EBITDA increased 4% to HK$12.831 billion; loss attributable to the company's equity holders was HK$471 million; profit attributable to the company's equity holders was HK$158 million for the same period last year. Basic loss of HK$6.10 per share and proposed final dividend of HK$28.48 per share.
Xiaomo previously pointed out that when interest expenses reach a high level, HKT can still increase dividends while competition in the broadband market eases or provides room for fee increases. Therefore, he believes that the company is the best defensive local telecommunications stock. The rating was raised to “increase holdings”, and the target price was raised from HK$9.5 to HK$11, ranking it as the industry's first choice.