PCCW (8) H1 2026 earnings summary

Executive summary

• Consolidated revenue grew 7% year-over-year to HK$20,204 million (US$2,590 million), with EBITDA up 3% to HK$6,182 million (US$793 million), and consolidated profit for the period rising 27% to HK$959 million.

• Growth was driven by HKT, Viu, and ViuTV, with strong OTT subscriber gains, robust mobile and enterprise demand, and AI-driven efficiencies.

• Interim dividend declared at 9.77 HK cents per share, reflecting a disciplined policy prioritizing financial strength and stable shareholder returns.

Financial highlights

• HKT revenue up 8% year-over-year to HK$18,685 million (US$2,396 million), with EBITDA up 3% to HK$6,586 million (US$844 million).

• OTT business revenue up 5% year-over-year to US$142 million, with paid subscribers rising 11% to 15.3 million.

• Free TV & Related revenue up 8% to US$47 million (HK$370 million), with strong advertising from FIFA World Cup 2026™ broadcast.

• Group EBITDA margin stable at 35%; OpEx to revenue ratio improved to 14.2%; CapEx to revenue ratio at 5.3%.

• Consolidated profit for the period increased 27% year-over-year to HK$959 million.

Outlook and guidance

• AI initiatives and content innovation expected to drive renewed revenue momentum and margin improvement in H2 2026.

• Major content launches, events, and group concerts scheduled for late 2026 to boost revenue and profitability.

• Ongoing focus on disciplined dividend policy and sustainable growth.