Astro earnings miss expectations, analysts cut forecasts

KUALA LUMPUR: Astro Malaysia Holdings Bhd’s second quarter ended July 31 (2Q23) earnings missed expectations, which has led to analysts cutting estimates for the financial year 2023-2023 (FY23-24).

Astro’s 1HFY23 core profit after tax and minority interest (PATAMI) of RM223m came in slightly below MIDF Research’s expectation, making up 39% of its full year estimate.