Taipei, Taiwan- August 12, 2024- Far EasTone (TAIEX: 4904) today announced its unaudited financial results for July. Benefiting from the merger synergies with Asia Pacific Telecom (APT), continued customer upgrades to 5G services, contributions from the prepaid card business, and steady growth in New Economy Revenue, the company achieved consolidated total revenue of NT$7,895 million for July, marking a year-over-year growth of 9.8%. EBITDA reached NT$2,996 million, representing a 12.7% year-over-year increase. Net income for July saw a healthy year-over-year growth of 8.5%, amounting to NT$1,030 million, with earnings per share (EPS) of NT$0.29.
Year to July this year, FET's consolidated total revenue, consolidated EBITDA, and net income have grown by 14.5%, 12.5%, and 9.1%, respectively, reaching NT$58,611 million, NT$20,824 million, and NT$7,059 million. The company achieved an EPS of NT$1.96, reflecting strong operational performance.
In July 2024, FET saw a positive increase in total subscribers, with 5G postpaid user penetration reaching 41%, and both postpaid users' Average Revenue Per User (ARPU) and market leadership in these metrics were maintained. This drove overall mobile service revenue to double-digit growth, consistently surpassing the NT$5 billion threshold, marking 41 consecutive months of positive growth since March 2021.
FET's digital and net-zero transformation continues to gain momentum. In July 2024, New Economy Revenue sustained its growth trajectory, with double-digit year-over-year growth in various business areas, including smart ICT solutions and 5G private networks for enterprise customers, as well as mobile insurance and FET friDay Video services for consumers, contributing to the expansion of New Economy scale.