ADVANC Jumps 5% after 1Q24 Earnings Beat Consensus

The share price of Advanced Info Service Public Company Limited (SET: ADVANC) rose over 5% in the morning session on Thursday after reporting a higher-than-expected 1Q24 earnings.

The share price of ADVANC rose as much as THB10.50 or 5.31% to THB208 per share.


ADVANC reported a net profit of Bt8,451mn, increasing 25% YoY, following an improved operating performance despite higher finance cost and FX loss. The increase was 18% higher than the market expectations for Bt7,187 million, according to the data from LSEG.

AIS reported core service revenue of Bt39,437mn, a solid increase of 18% YoY and 6.4% QoQ, driven by all businesses especially in mobile and FBB strategized on sustainable profitability focus, and boosted by full quarter revenue addition from TTTBB acquisition.

Mobile revenue reported Bt30,339mn, marking 3.7% YoY and 0.9% QoQ alongside the economic boost from government and the incoming tourists. The focus on high-quality acquisition, personalized value-added packages offered at the right time through upselling and cross-selling strategies, and positive impact from package restructuring to enhance more value to the customers resulted in a continuous growth in ARPU.

Based on 16 brokerage firms compiled by LSEG, 14 gave BUY recommendations, while two recommended Hold and no Sell. The consensus for target price is THB255.06, which is 29% upside from the current price. Noted that the target price is prior to the announcement of 1Q24 earnings.