Chunghwa Telecom Co., Ltd (NYSE:CHT) Q2 2020 Earnings Conference Call - Final Transcript
Jul 30, 2020 • 03:00 am ET
Good afternoon, ladies and gentlemen. Welcome to Chunghwa Telecom Conference Call for the company's second quarter 2020 operating results. [Operator Instructions] For information, this conference call is now being broadcasted live over the Internet. Webcast replay will be available within an hour after the conference is finished. Please visit www.cht.com.tw/ir under the IR calendar section.
Now I want to turn it over to Ms. Angela Tsai, the Director of Investor Relations. Ms. Tsai, please go ahead.
Thank you, operator. Hello, everyone. Welcome to our second quarter of 2020 results conference call. This is Angela Tsai, the Director of Investor Relations for Chunghwa Telecom. During today's call, Mr. Harrison Kuo, our President and Chief Financial Officer, will provide an overview of our business achievements during the quarter and discuss operating highlights. He will be followed by Ms. Fu-Fu Shen, our Assistant Vice President of Public Affairs, who will provide financial highlights. We'll also have a Q&A session.
Now I would like to hand the call over to President Kuo, and please note your safe harbor statement on slide two. President Kuo, please go ahead.
Thank you, Angela, and hello, everyone. Welcome to our second quarter 2020 earnings call. Today, I would like to begin by highlighting our 5G service launch, which took place on June 30. We expect the launch of 5G service as a change to this mobile market toward sales growth. So far, we have seen evidence of a significant increase in adoption of our high-priced mobile plan amidst the 5G launch. We believe 5G is a chance to make telecom operators to provide services beyond that of standard operators by delivering services while our need to be protect business model. We will actively create innovative 5G services by acquiring, building or collaborating with partners from different verticals. In addition, we aim to provide a same as broadband connect environment to satisfy customers.
We believe our advantage of the largest mobile broadband spectrum can result in network infrastructure and the availability of net WiFi are the key reasons for us to achieve the call and stand out. Now I will provide the key highlights of the second quarter of 2020. I am pleased to say our 300 megabits per second broadband migration increased more than 30% year-over-year in the second quarter. Our vertical private network service offerings provided through enterprise customers, continued to grow to contribute the total revenue. In addition, our at Home WiFi subscription increased 120% year-over-year. We were glad to see that healthy growth of our core business.
During the quarter, we also continued to see the impact of the COVID-19 pandemic on our overall business. We saw the growth in fixed broadband, cloud and ICT services due to increased demand of work and study from home and multi-business and was relatively resilient, thanks to the growing stay-at-home lifestyle trend. In addition, digital channel assets and transactions increased 92% year-over-year, enhancing our overall channel funding and performance. However, international mobile enrollment revenue continues to be affected due