Taiwan Mobile (3045) Q1 2026 earnings summary

Executive summary

• Q1 2026 saw robust YoY top-line growth across all core segments, with consolidated EBITDA and EBIT up 8% and 15% YoY, respectively, and EPS reaching NT$1.37, the highest among peers.

• Excluding one-off items, net income grew 17% YoY, driven by AI-driven efficiencies, optimized subsidies, and strong BDO and AICT project performance.

• Achieved solid growth across Telco, Telco+, and New Telco+ Tech businesses, maintaining a stable Telco Core foundation while expanding for structural growth.

Financial highlights

• Consolidated revenue rose 3% YoY to NT$49.78bn; EBITDA up 8% YoY to NT$11.35bn; EBIT up 15% YoY to NT$5.93bn.

• Net income increased 13% YoY to NT$4.15bn; EPS grew 13% YoY to NT$1.37.

• Free cash flow reached NT$7.04bn, up from NT$4.41bn in 1Q25, with an annualized yield of 8.5%.

• Telecom business revenue grew 6% YoY, accounting for 46% of consolidated revenue; Telco+ revenue surged 26% YoY.

• Normalized net income (excluding 2025 one-off tax benefit) increased 17% YoY.

Outlook and guidance

• Continued focus on AI-driven operational efficiencies and digital transformation expected to sustain growth.

• Ongoing expansion in AICT, AI data center, and digital ventures to drive future revenue.

• Continued investment in 5G and digital transformation to sustain competitive advantage.