PCCW (8) H1 2025 earnings summary

Executive summary

• Revenue rose 7% year-over-year to HK$18,922 million, EBITDA increased 6% to HK$6,010 million and consolidated profit rose 116% to HK$758 million.

• Viu paid subscribers reached 13.8 million, while ViuTV digital membership rose to 3.3 million.

• Interim dividend of 9.77 HK cents per ordinary share declared.

Financial highlights

• HKT revenue rose 4% to HK$17,322 million and EBITDA increased 3% to HK$6,380 million; OTT revenue grew 10% to HK$1,194 million and EBITDA rose 51% to HK$346 million.

• Free TV & Related Business revenue fell 29% to HK$343 million and EBITDA declined 48% to HK$47 million.

• Loss attributable to equity holders narrowed to HK$445 million from HK$462 million; net finance costs decreased 14% to HK$1,140 million.

• Other Businesses revenue nearly doubled to HK$743 million, reflecting IT solutions project milestones.

Outlook and guidance

• H2 concerts, shows and events are expected to support a recovery in Free TV & Related Business revenue.

• Viu aims to reach positive cash flow through content expansion and strategic partnerships.

• Focus remains on profitable growth, prudent scaling, digital capabilities and AI-driven solutions, alongside sustainable shareholder returns.