Telekom Malaysia (TM) reported better-than-expected latest quarterly earnings, propelling its share price up by 2.1%. Strong broadband subscriber growth and effective cost management were key drivers.
Telekom Malaysia Bhd (TM, stock code: 4863) saw its shares rise by RM0.12 to close at RM5.85 on Wednesday, a 2.10% gain, after the company announced better-than-expected latest quarterly earnings. TM reported a 15% year-on-year increase in net profit, driven by sustained subscriber growth in its Unifi broadband business and effective cost management initiatives. Revenue also saw robust growth, reflecting strong demand for digital services. Analysts were generally optimistic about TM's results, noting that its strategic investments in 5G deployment and enterprise solutions are expected to drive further growth in the future. Several brokers upgraded TM's target price and maintained 'buy' ratings, citing attractive valuations.
Share: