Astro's Shares Flat In Early Trade After Lower FY2026 Earnings

KUALA LUMPUR, March 26 (Bernama) -- Astro Malaysia Holdings Bhd’s (Astro) share price remained unchanged in early trade after reporting lower earnings for the financial year ended Jan 31, 2026 (FY2026).

At 10.08 am, the counter was flat at eight sen, with 15.51 million shares traded.

Astro’s net profit fell to RM63.13 million in FY2026 from RM129.15 million in FY2025, while revenue declined to RM2.79 billion from RM3.08 billion a year ago.

In a Bursa filing yesterday, it attributed the decrease in revenue to declines in subscription, advertising, rental income, and sales of programming rights.

In a note, Kenanga Investment Bank Bhd said it has cut its FY2027 forecast earnings for Astro by 32 per cent to reflect higher broadbank costs.

Looking ahead, the investment bank sees signs that both valuations and earnings may be nearing a trough, with subscriber attrition showing early signs of stabilisation.

At the same time, potential upside could be driven by Astro’s increasing focus on expanding its intellectual property (IP) portfolio, enabling monetisation across multiple platforms, (eg. linear TV, digital channels, regional syndication, and international streaming partnerships).

“We upgrade Astro to ‘market perform’ from ‘underperform’ as we believe value has emerged with current depressed valuations already reflecting earnings risks.

“Meanwhile, a potential recovery in subscriber base offers upside,” it said.

-- BERNAMA