Maxis (MAXIS) Q2 2026 earnings summary

Executive summary

• Service revenue reached RM2,252 million in 2Q26, up 0.4% QoQ and 2.2% YoY, with YTD26 service revenue growing 2.7% YoY.

• Total revenue for Q2 2026 increased 3.7% YoY to RM2,656 million, with device revenue up 12.8%.

• EBITDA for 2Q26 was RM1,124 million, up 2.3% QoQ and 2.7% YoY, while EBIT increased 6.8% YoY to RM691 million.

• Profit after tax for Q2 2026 was RM436 million, up 4.6% QoQ and 9.5% YoY.

• Operating free cash flow for 2Q26 was RM991 million, with capex at RM171 million and a dividend of 4 sen per share declared.

Financial highlights

• YTD26 service revenue grew 2.7% to RM4,494 million, while YTD revenue rose 4.2% to RM5,387 million.

• YTD EBITDA increased 3.4% to RM2,223 million, and EBIT rose 7.6% to RM1,354 million.

• YTD profit after tax was RM853 million, up 10.9% YoY.

• EBITDA margin on service revenue improved to 49.9% in 2Q26 from 49.2% in 2Q25.

• Net profit margin increased to 16.4% in 2Q26 from 15.5% in 2Q25.

Outlook and guidance

• FY26 guidance projects low single-digit growth for both service revenue and EBITDA, with capex intensity between 10% and 12%.

• Focus remains on operational efficiency, customer experience, and network reliability.