Phillip expects ADVANC 3Q26 profit to reach 13,236 million baht, eyeing 4Q26 new high

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Phillip Securities (Thailand) Public Company Limited estimates that ADVANC will post a net profit of 13,236 million baht in the third quarter of 2026, up 9.9% year-on-year but down 3.5% from the previous quarter. Core service revenue continues to grow, with the mobile business supported by a quality-customer screening strategy and the push for 5G packages, which helped lift ARPU, while the broadband business grew on package adjustments and additional content service sales. However, profit was pressured by the start of recognizing a share of losses from its investment in the associated company Virtual Bank, or CLICX, of about 210 million baht, as well as higher network and SG&A expenses from investment in developing back-end IT systems, even though marketing expenses declined after the end of the English Premier League football rights. For the fourth quarter of 2026, Phillip expects operating results to return to a new high for the year, driven by the high season in tourism and year-end consumption, together with full-quarter recognition of iPhone 18 smartphone sales after deliveries began in mid-September. It maintains a buy recommendation on ADVANC with a 2027 base-case valuation of 414 baht per share.

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CLICX (Clicx Bank)i
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ADVANC's profit was pressured by the start of recognizing about 210 million baht in share of losses from its investment in associated company CLICX (Virtual Bank).