Chunghwa Telecom (2412) Q3 2025 earnings summary

Executive summary

• Achieved record-breaking financial performance in Q3 2025, with revenue, operating income, net income, and EPS all exceeding the high end of guidance, driven by robust core business and ICT services growth.

• Revenue reached its highest third-quarter level since 2017, and ICT revenue set a new third-quarter record since 2021.

• Strategic achievements included successful carve-outs, public listing of Chunghwa Telecom Security, launch of Event AI, and international recognition for AI technology.

• Issued a NT$3.5 billion sustainability bond to support ESG, biodiversity, EV, and net-zero initiatives.

• The independent auditor’s review found no material misstatements in the financial statements.

Financial highlights

• Q3 2025 revenue was NT$57.92 billion, up 4.2% year-over-year, marking the highest Q3 revenue in nine years; 9M25 revenue was NT$170.46 billion, up 3.5%.

• Q3 2025 net income was NT$9.44 billion, up 4.8% year-over-year; 9M25 net income reached NT$30.66 billion, a 5.7% increase.

• EBITDA for Q3 2025 was NT$22.11 billion, up 4% year-over-year, with an EBITDA margin of 38.17%.

• Earnings per share for the nine months were NT$3.79 basic and NT$3.78 diluted, the highest Q3 EPS in eight years.

• Free cash flow for 9M25 was NT$28.19 billion, down 16.5% year-over-year, mainly due to working capital timing and CapEx.

Outlook and guidance

• Management expressed confidence in achieving full-year financial targets, with all major metrics performing above or on target for guidance.

• Revenue growth is expected to continue, supported by strong ICT, 5G, and core telecom business momentum.

• No significant subsequent events or changes in outlook were reported after September 30, 2025.