Chunghwa Telecom Q3 profit rises on telecom, ICT growth

Chunghwa Telecom

Wed 07:58

Overview
Taiwan telecom provider's Q3 revenue rose 16.7% yr/yr, reaching NT$67.59 bln
Net income grew 29.5% yr/yr, with basic EPS at NT$1.57
Results driven by core telecom strength, ICT growth, and one-off asset gain

Outlook
Chunghwa Telecom says it is confident in achieving its full-year guidance

Result Drivers
CORE TELECOM GROWTH - Co said mobile service revenue rose 2.9% yr/yr, supported by 5G smartphone penetration near 50% and increased roaming; fixed broadband revenue grew 3.0% on higher demand for faster speeds
ICT REVENUE SURGE - Enterprise ICT revenue rose 19% yr/yr and Q3 ICT order intake increased 84%, reflecting a strong project pipeline
INTERNATIONAL BUSINESS - International IPLC revenue, mainly from submarine cable systems, increased 33% yr/yr, while satellite-related revenue rose 9.8%

Company press release: ID:nPn1XRccXa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
T$67.59 bln
 
Q3 Net Income
 
T$12.22 bln
 
Q3 Basic EPS
 
T$1.57
 
Q3 EBITDA
 
T$25.66 bln
 
Q3 Operating Income
 
T$15.38 bln
 

Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the integrated telecommunications services peer group is "buy."
Wall Street's median 12-month price target for Chunghwa Telecom Co Ltd is $48.08, about 1.1% below its November 3 closing price of $48.63
The stock recently traded at 58 times the next 12-month earnings vs. a P/E of 28 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)