Financial Performance and Key Metrics - Chunghwa Telecom reported a full year revenue of TWD 236.11 billion for 2025, marking a 2.7% increase compared to 2024, driven by strong mobile device sales and robust performance in the ICT sector [19][20] - The company's EPS for 2025 reached TWD 4.99, up from TWD 4.8 in the previous year, representing an eight-year high [3][21] - Fourth quarter revenue was TWD 65.65 billion, a 0.5% year-over-year increase, making it the highest fourth quarter revenue in nearly a decade [17][18] Business Segment Performance - Mobile revenue market share increased to 41%, with a subscriber market share of 39.7%, driven by growth in postpaid subscribers [7] - Fixed broadband ARPU reached NT$819 per month, a 3.8% increase year-over-year, supported by high-speed upgrade promotions [8] - ICT revenue declined by 6% year-over-year in the fourth quarter, but full year ICT revenues still recorded robust growth [10][11] Market Performance - The 5G subscriber market share increased to 39.2%, with a penetration rate of 46.4% among smartphone users by the end of 2025 [7] - Revenue from South Asia and Southeast Asia markets increased by 12% year-over-year, while international subsidiaries' revenue decreased by 7% due to lower demand for voice services [14] Company Strategy and Industry Competition - Chunghwa Telecom plans to focus on extending pre-6G opportunities in AIoT, satellite, and big data services, expecting combined revenue to surpass TWD 10 billion in 2026 [5] - The company aims to enhance its satellite services and has secured contracts for government projects, indicating a strategic move towards expanding its service offerings [13] Management Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2026, citing a stable mobile market and successful strategies for ARPU enhancement in fixed broadband [4] - The company anticipates a 2% revenue growth for 2026, driven by core business momentum and digital transformation opportunities in the ICT sector [25] Other Important Information - Chunghwa Telecom received multiple awards for its ESG accomplishments and was recognized as one of the World's Most Trustworthy Companies in 2025 [6] - The company secured a 20-year corporate power purchase agreement for renewable energy, supporting its commitment to achieving net zero by 2045 [6] Q&A Session Summary Question: Details on the increase in non-mobile CapEx for 2026 - Management explained that the increase is primarily due to fixed line maintenance, satellite, cables, and IDC investments [31][34] Question: Clarification on the increase in operating costs - The increase is attributed to investments in human resources, particularly for AI-related talents, and uncertainties regarding electricity costs in Taiwan [32] Question: Request for more detailed breakdown of non-mobile CapEx - Management acknowledged the request for greater detail in future disclosures regarding non-mobile CapEx allocations [36]

Financial Performance and Key Metrics - Chunghwa Telecom reported a record high full-year revenue of TWD 236.11 billion for 2025, reflecting a 2.7% increase compared to 2024, driven by strong mobile device sales and robust performance in the ICT sector [20][21] - The company's EPS reached TWD 4.99, marking an 8-year high and extending annual growth momentum for the sixth consecutive year [3][21] - In Q4 2025, consolidated revenue was TWD 65.65 billion, a 0.5% year-over-year increase, marking the highest fourth-quarter revenue in nearly a decade [18][19] Business Line Performance - Mobile revenue market share increased to 41%, with subscriber market share at 39.7%, driven by growth in postpaid subscribers [7] - Fixed broadband ARPU reached NT$819 per month, a 3.8% increase year-over-year, supported by high-speed upgrade promotions [8] - ICT revenue declined by 6% year-over-year in Q4 due to a high comparison base, but full-year ICT revenues still recorded robust growth [10][11] Market Performance - 5G subscriber market share increased to 39.2%, with a penetration rate of 46.4% among smartphone users by the end of 2025 [7] - Revenue from international subsidiaries decreased by 7% year-over-year, primarily due to lower demand for voice services [14] - However, revenue in South Asia and Southeast Asia markets increased by 12% year-over-year, supported by completed construction projects [15] Company Strategy and Industry Competition - The company plans to focus on extending pre-6G opportunities in AIOT, satellite, and big data services, expecting combined revenue to surpass TWD 10 billion in 2026 [5] - Chunghwa Telecom aims to leverage its satellite services as part of government contracts to enhance long-term service agreements [14] - The company is also investing in AI-driven connectivity and edge computing to create new revenue streams [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence entering 2026, citing a stable mobile market and successful fixed broadband strategies [4] - The company anticipates continued growth in ICT business driven by digital transformation opportunities [26] - Operating costs are expected to increase by 3.5% to 3.7%, primarily due to investments in talent and infrastructure [26][33] Other Important Information - Chunghwa Telecom received multiple awards for its ESG accomplishments and was recognized as one of the World's Most Trustworthy Companies in 2025 [6] - The company secured a 20-year corporate power purchase agreement for renewable energy to support its 2045 net zero commitment [6] Q&A Session Summary Question: Details on the increase in non-mobile CapEx for 2026 - Management explained that the increase is driven by fixed line maintenance, satellite, cables, and IDC investments [31][32] Question: Clarification on the increase in operating costs - Management highlighted that the increase is due to investments in human resources, electricity costs, and higher depreciation [33][34] Question: Request for more detailed breakdown of non-mobile CapEx - Management acknowledged the request but noted that they do not separately disclose exact numbers for each non-mobile item [35][36]

Financial Performance and Key Metrics - Chunghwa Telecom reported a full year revenue of TWD 236.11 billion for 2025, marking a 2.7% increase compared to 2024, driven by strong mobile device sales and robust performance in the ICT sector [20][21] - The company's EPS reached TWD 4.99, an increase from TWD 4.8 in the previous year, representing an 8-year high [3][21] - For Q4 2025, consolidated revenue was TWD 65.65 billion, a 0.5% year-over-year increase, making it the highest fourth quarter revenue in nearly a decade [18][19] Business Segment Performance - In the mobile segment, Chunghwa Telecom achieved a mobile revenue market share of 41% and a subscriber market share of 39.7%, with a 4.7% year-over-year growth in mobile service revenue [7][8] - Fixed broadband ARPU reached NT$819 per month, a 3.8% increase year-over-year, driven by high-speed upgrade promotions [8][9] - The ICT segment saw a 6% year-over-year decline in revenue for Q4, but full year ICT revenues recorded robust growth, with recurring ICT revenue increasing by 15% [10][11] Market Performance - The 5G subscriber market share increased to 39.2%, with a penetration rate of 46.4% among smartphone users by the end of 2025 [7] - International subsidiaries experienced a 7% year-over-year revenue decrease, primarily due to lower demand for voice services, while South Asia and Southeast Asia markets saw a 12% revenue increase [14][15] Company Strategy and Industry Competition - The company plans to focus on extending pre-6G opportunities in AIOT, satellite, and big data services, expecting combined revenue to surpass TWD 10 billion in 2026 [5] - Chunghwa Telecom aims to enhance its satellite services and has secured contracts for government projects, indicating a strategic move towards expanding its service offerings [13] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence entering 2026, citing a stable mobile market and successful fixed broadband strategies [4] - The company anticipates continued growth in ICT business driven by digital transformation opportunities and plans to invest in talent and infrastructure [26][27] Other Important Information - Chunghwa Telecom received multiple awards for its ESG accomplishments and was recognized as one of the World's Most Trustworthy Companies in 2025 [6] - The company secured a 20-year corporate power purchase agreement for renewable energy to support its 2045 net zero commitment [6] Q&A Session Summary Question: Details on the increase in non-mobile CapEx for 2026 - Management explained that the increase is primarily due to fixed line maintenance, satellite, cables, and IDC investments [31][32] Question: Clarification on the increase in operating costs - The increase is attributed to investments in human resources, particularly for AI-related talents, and uncertainties regarding electricity policies in Taiwan [33][34] Question: Request for more detailed breakdown of non-mobile CapEx - Management acknowledged the request and indicated that IDC and cloud investments are significant components of non-mobile CapEx [35][37]

Core Insights - Chunghwa Telecom reported its highest fourth quarter revenue in nearly a decade at NT$65.65 billion, achieving full year results that met or exceeded all upper end guidance [4][6] - Full year revenue reached an all-time high of NT$236.11 billion, a 2.7% increase year over year, with full year EPS at NT$4.99, marking an eight-year high [4][11] - The company emphasized its focus on digital innovation and operational excellence as key drivers of its performance [4] Fourth Quarter 2025 Financial Highlights - Total revenue increased by 0.5% to NT$65.65 billion [6][7] - Consumer Business Group revenue rose by 5.9% to NT$39.54 billion, driven by mobile and broadband services [6][8] - Enterprise Business Group revenue decreased by 7.9% to NT$22.02 billion, impacted by prior project recognitions [6][9] - International Business Group revenue increased by 2.5% to NT$2.56 billion, supported by demand for IDC services [6][10] - Operating income decreased by 2.2% to NT$11.38 billion, with a margin of 17.34% [6][13] - Net income attributable to stockholders increased by 3.2% to NT$9.29 billion, with EPS at NT$1.20 [6][13] Full Year 2025 Financial Highlights - Total revenue for 2025 increased by 2.7% to NT$236.11 billion [11] - Consumer Business Group revenue increased by 2.4% to NT$143.37 billion [6][11] - Enterprise Business Group revenue increased by 2.5% to NT$77.24 billion [6][11] - International Business Group revenue decreased by 4.1% to NT$9.52 billion [6][11] - Operating income for 2025 increased by 3.6% to NT$48.55 billion, with a margin of 20.56% [6][14] - Net income attributable to stockholders increased by 4.0% to NT$38.69 billion, with EPS at NT$4.99 [6][14] Cash Flow and EBITDA - Cash flow from operating activities decreased by 2.2% year over year to NT$77.50 billion [15] - EBITDA for the fourth quarter was NT$21.55 billion, a decrease of 0.2% year over year [15][16] - EBITDA for 2025 increased by 2.6% to NT$88.77 billion, with a margin of 37.60% [16] Business Highlights - As of December 31, 2025, mobile subscribers increased by 0.9% to 13.24 million, with mobile service revenue up by 4.7% to NT$17.68 billion [18] - Fixed broadband subscribers slightly increased by 0.5% to 4.45 million, with broadband revenue growing 3.8% to NT$11.88 billion [19] 2026 Guidance - The company expects total revenue to increase by NT$5.88 to NT$7.57 billion, or 2.5% to 3.2%, for 2026 [21][23] - Operating costs and expenses are expected to rise by NT$6.54 to NT$7.01 billion, or 3.5% to 3.7% [21][23] - Net income attributable to stockholders is projected to be between NT$37.39 and NT$38.94 billion, reflecting a potential decrease of NT$1.30 to an increase of NT$0.25 billion year over year [24]

February 3, 2026 © Chunghwa Telecom 4Q 2025 Operating Results NOTE CONCERNING FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward- looking statements can be identified by terminology such a ...

We came across a bullish thesis on AT&T Inc. on Pacific Northwest Edge’s Substack by David. In this article, we will summarize the bulls’ thesis on T. AT&T Inc.'s share was trading at $25.13 as of January 29th. T’s trailing and forward P/E were 8.27 and 11.38 respectively according to Yahoo Finance. Ondas Holdings (ONDS) Surges 10.5% After Bagging New Govt Contract Copyright: bluebay / 123RF Stock Photo AT&T Inc. provides telecommunications and technology services worldwide. T is emerging as one of the ...

Core Insights - Charter Communications Inc. reported a quarterly revenue decline of 2.3% year-on-year to $13.60 billion, missing analyst consensus estimates of $13.74 billion, while EPS of $10.34 exceeded the consensus estimate of $9.90 [1] - The company expects capital expenditures (capex) of approximately $11.4 billion for fiscal 2025, a slight decrease from the previous estimate of $11.7 billion [1] Company Strategy - Charter Communications aims to position Spectrum as a provider of guaranteed connectivity, service, and savings, focusing on product utility, value, and high-quality service to drive sustainable growth in customer base, EBITDA, and cash flow for shareholders in 2026 [2] - Following the earnings announcement, Charter Communications shares increased by 4.5%, trading at $215.45 [2] Analyst Ratings - Benchmark analyst Matthew Harrigan maintained a Buy rating on Charter Communications and raised the price target from $425 to $455 [4] - Wells Fargo analyst Steven Cahall maintained an Underweight rating and raised the price target from $180 to $200 [4]

Core Insights - T-Mobile is laying off 393 employees across more than 200 different job titles, which includes roles such as analysts, engineers, technicians, directors, and managers [1] Company Summary - The layoffs at T-Mobile affect a wide range of positions, indicating a significant restructuring within the company [1] - The decision to reduce workforce may reflect broader strategic changes or cost-cutting measures being implemented by T-Mobile [1] Industry Context - The layoffs could signal trends within the telecommunications industry, where companies may be adjusting their workforce in response to market pressures or shifts in technology [1]

Core Viewpoint - Verizon Communications Inc. has seen a significant increase in its stock price, gaining almost 15% after a strong earnings report, but it may face resistance at previous peak levels, particularly around $44, which could lead to a potential sell-off [1][5]. Group 1: Stock Performance and Resistance - The stock price of Verizon gained nearly 15% following a robust earnings report, making it the "Stock of the Day" [1]. - Historical price levels, specifically around $44, have previously acted as resistance points for Verizon's stock, indicating potential selling pressure if the stock approaches this level again [3]. - The concept of "selling at former tops" suggests that investors who bought at previous peaks may place sell orders when the stock returns to those levels, creating resistance [2][5]. Group 2: Investor Behavior - Investors who purchased shares at previous highs may feel regret and choose to sell at breakeven when the stock price returns to those levels, contributing to resistance [2]. - When the stock reaches resistance, anxious sellers may lower their offer prices to avoid losses, potentially leading to a snowball effect that drives the stock price lower [4].

Group 1: SpaceX and xAI - SpaceX and xAI are reportedly in advanced discussions for a potential merger or strategic deal, with an announcement possible as soon as this week [2][11] - The merger would combine SpaceX's aerospace manufacturing and space transportation capabilities with xAI's focus on artificial intelligence, potentially enhancing SpaceX's operations and future projects [3][11] Group 2: Verizon - Verizon is in the process of identifying candidates to succeed Sowmyanarayan Sampath, the current head of its consumer division, indicating a potential leadership change [4][5][11] - The leadership change in such a critical division could signal a strategic shift for Verizon as it navigates a competitive telecom landscape [5][11] Group 3: Ford - The National Highway Traffic Safety Administration (NHTSA) has initiated an engineering analysis into approximately 1.3 million Ford F-150 vehicles due to reports of unintended transmission downshifts and rear wheel lock-ups [6][11] - This investigation aims to determine the scope and severity of the alleged defect, which could lead to a significant recall impacting Ford's financial performance and brand reputation [7][11] Group 4: Sanofi - Sanofi has received a reprimand from a UK regulator for making misleading claims about its RSV vaccine and for disparaging Pfizer's competing product [8][9][11] - This regulatory action underscores the intense competition and scrutiny within the pharmaceutical industry, particularly regarding new and high-demand vaccines [9][11]