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Comparing Performance of TRUE and ADVANC: Thailands Telecom Giants in Q3 2026, Who Grew the Most?

Capital market04 Nov 2026 09:51 GMT+7

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Comparing Performance of TRUE and ADVANC: Thailands Telecom Giants in Q3 2026, Who Grew the Most?

The Q3 2026 financial reporting period is fully underway as listed companies submit their statements to the Stock Exchange within 45 days after quarter-end. Investors closely watch these results to gauge how each business reflects the economy and consumer purchasing power.

In this quarter, TRUE continued its profit streak into the seventh consecutive quarter and announced an interim dividend, while ADVANC posted a 12% net profit growth supported by rising revenues and lower depreciation expenses.

TRUE's profit surged 324%, maintaining profitability for seven consecutive quarters and declared a dividend of 0.16 baht per share.

True Corporation Public Company Limited, or TRUE shares, has a market capitalization of 442.27 billion baht with its stock closing at 12.80 baht on 30 Oct 2026, up 17.43% since the start of 2026.

For Q3 2026, TRUE reported revenues of 46.85 billion baht, down 0.8% year-on-year but up 2.1% from the previous quarter, mainly due to the termination of the joint frequency management contract with NT on 3 Aug 2025. Service revenue excluding interconnection (IC) income was 41.63 billion baht, up 0.9%.

Net profit reached 6.67 billion baht, a 324.1% increase from the same period last year, marking the seventh consecutive profitable quarter. Earnings before interest, tax, depreciation, and amortization (EBITDA) were 28.49 billion baht, up 5.7% year-on-year.

TRUE's customer base includes 48.8 million mobile subscribers, up 3.9%, with 15.5 million postpaid and 33.2 million prepaid users. The 5G user base grew 32.25% to 20.5 million. Home internet subscribers reached 3.3 million, up 3.9%.

Mobile ARPU was 222 baht per month, down 0.2% year-on-year but up 1.0% from the prior quarter. Home internet ARPU increased 2.0% to 508 baht per month.

The board approved an interim dividend of 0.16 baht per share, totaling 5.53 billion baht or 83% of net profit, with an XD date of 13 Nov 2026 (record date 16 Nov) and payment scheduled for 1 Dec 2026.

ADVANC posted a profit of 13.5 billion baht, growing 12%, with revenue growth across all businesses and lower depreciation costs.

Advanced Info Service Public Company Limited, or ADVANC shares, has a market capitalization of 1.01 trillion baht, with its stock closing at 338.00 baht on 30 Oct 2026, up 7.99% since early 2026.

In Q3 2026, ADVANC reported revenues of 58.06 billion baht, up 6.8% year-on-year and 2.8% from the previous quarter, partly driven by equipment and SIM sales totaling 11.59 billion baht, which rose 29% due to the popularity of premium smartphones.

Net profit was 13.50 billion baht, a 12.0% increase supported by reduced depreciation following the end of the 2100MHz network connection contract with NT. EBITDA rose 4.5% to 32.83 billion baht.

ADVANC’s mobile subscriber base reached 47.2 million, a 1.9% increase, with 20 million 5G users, up 26%, representing 42% of total subscribers. Home internet customers numbered 5.4 million, up 3.6%.

Mobile ARPU was 239 baht per month, up 2.1%, and home internet ARPU was 536 baht per month, up 1.6%. No interim dividend was declared this period.


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