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Chunghwa Telecom sees profits fall in 3Q16

Chunghwa Telecom (CHT) has reported net profits of NT$9.6 billion (US$303.03 million) for the third quarter of 2016, decreasing 18.7% from a year earlier. EPS for the quarter stood at NT$1.24.

Revenues for the third quarter, however, were up 4.2% to NT$58.52 billion, the company revealed at an online investors conference.

CHT said that 4G service subscribers totaled 6.23 million at the end of September, accounting for 37% of Taiwan's overall mobile service subscribers.

However, the company's capex reached only NT$12.3 billion in the first three quarters of 2016, representing a decline 20% on year and accounting for 40.2% of its capex set for the year.

The company's stock price edged down NT$0.50 to finish at NT$110.50 on the Taiwan Stock Exchange (TSE) during the October 28 session.