Report
EUR 9547.00 For Business Accounts Only

KDDI (Buy, TP: ¥6,600, +34%) Q3 23 Quick Take: KPIs moving in the right direction

KDDI reported results today, in line with consensus on revenue and EBIT. Revenue growth slowed primarily driven by lower Energy and roaming revenue (which were known about), partially offset by strength in Enterprise. Mobile KPIs continue to move in the right direction with strong subs growth and sequential ARPU improvement again (yoy trends impacted by a weak Q2 last year).
Underlying
KDDI Corporation

KDDI is a telecommunications company. Along with its affiliates, Co. operates in four principal business segments: personal, value, business, and global. Co. is engaged in the sale of mobile handset; and the provision of mobile telecommunication services under "au" brand name, Internet contents, settlement service, and electronic money service for individual customers. Co. offers information and communication technology ("ICT") solution services and data center services for domestic corporate customers, overseas companies and individual customers. Co. is also involved in the call center business, the research and technological development, and the telecommunication facilities maintenance.

Provider
New Street Research
New Street Research

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Analysts
Chris Hoare

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