Chunghwa Telecom Reports Un-Audited Consolidated Operating Results for the Third Quarter of 2025

Rhea-AI Summary

Chunghwa Telecom (NYSE: CHT) reported un-audited consolidated results for Q3 2025 with total revenue up 4.2% to NT$57.92 billion and EBITDA of NT$22.11 billion (+4.0%). Operating income rose 6.4% to NT$12.10 billion and net income attributable to shareholders increased 4.8% to NT$9.44 billion (basic EPS NT$1.22). Consumer revenue grew 2.2% to NT$35.18 billion; enterprise revenue rose 7.4% to NT$18.91 billion; international revenue fell 1.9% to NT$2.33 billion. 5G subscriber share reached 38.8% and fixed broadband ARPU rose by NT$23. Cash and cash equivalents were NT$23.54 billion as of Sept 30, 2025.

Positive

• Total revenue +4.2% to NT$57.92 billion
• Operating income +6.4% to NT$12.10 billion
• Net income +4.8% to NT$9.44 billion
• EBITDA +4.0% to NT$22.11 billion
• 5G subscriber share at 38.8% (Sept 30, 2025)

Negative

• Cash and cash equivalents down 24.6% to NT$23.54 billion
• Cash flow from operations down 8.6% to NT$45.49 billion
• International revenue down 1.9% to NT$2.33 billion; income before tax down 19.7%
• Enterprise income before tax declined 5.1% YoY

Insights

Telecom financial analyst

Quarterly results beat guidance with revenue, operating income and EPS up; core services and ICT drove growth.

Revenue rose 4.2% to NT$57.92 billion, with operating income up 6.4% to NT$12.10 billion and net income attributable to shareholders up 4.8% to NT$9.44 billion. EBITDA increased to NT$22.11 billion, and EPS was NT$1.22. These figures explicitly exceeded the upper end of the company’s guidance.

The drivers were higher mobile and fixed broadband revenue in the Consumer Business Group and strong ICT growth in Enterprise, offsetting a small decline in International revenue. Operating costs rose 3.6%, and operating margin ticked up to 20.9%. Cash from operations fell 8.6% and cash balances declined 24.6%, so liquidity trends merit attention despite headline profitability.

Watch quarterly cash flow trends and the second half’s contribution from ICT and international AI projects over the next 12 months; monitor operating cash and cash equivalents updates each quarter to assess convertibility of EBITDA into free cash flow.

Technology & corporate strategy analyst

AI, ICT and recent corporate moves strengthen strategic optionality; near-term impact visible through revenue mix.

The company reports a 14.5% increase in ICT revenue and notes a 70% revenue rise at its US subsidiary tied to AI supply-chain projects; it also spun off an AI research team into InventAI and completed a sustainability bond and a cybersecurity listing. Those are factual, discrete corporate moves that expand non-core revenue channels and capital markets access.

Risks and dependencies are explicit: international fixed voice weakness and higher manpower costs constrained income; no projected financial effects for the new subsidiaries are provided. The listing of CHT Security and the planned IPO for International Integrated Systems create near-term reporting events to track but offer no guaranteed financial uplift in this release.

Key items to watch over the next 12 months include reported revenue contribution from InventAI and the named subsidiaries, quarterly ICT growth rates, and updates on cash and operating cash flow to confirm that strategic investments convert to measurable top- or bottom-line gains.

TAIPEI, Nov. 6, 2025 /PRNewswire/ -- Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) ("Chunghwa" or "the Company") today reported its un-audited operating results for the third quarter of 2025. All figures were prepared in accordance with Taiwan-International Financial Reporting Standards ("T-IFRSs") on a consolidated basis.

(Comparisons throughout the press release, unless otherwise stated, are made with regard to the prior year period . )

Third Quarter 2025 Financial Highlights

-       Total revenue increased by 4.2% to NT$ 57.92 billion.

-       Consumer Business Group revenue increased by 2.2% to NT$ 35.18 billion.

-       Enterprise Business Group revenue increased by 7.4% to NT$ 18.91 billion.

-       International Business Group revenue decreased by 1.9% to NT$ 2.33 billion.

-       Total operating costs and expenses increased by 3.6% to NT$ 45.82 billion.

-       Operating income increased by 6.4% to NT$ 12.10 billion.

-       EBITDA increased by 4.0% to NT$ 22.11 billion.

-       Net income attributable to stockholders of the parent increased by 4.8% to NT$ 9.44 billion.

-       Basic earnings per share (EPS) was NT$1.22.

-       Total revenue, operating income, net income attributable to stockholders of the parent and EPS all exceeded the upper end of our proposed guidance.

"Building on our exceptional first-half performance, we delivered another outstanding third quarter, surpassing the upper ends of our guidance across all key metrics including revenue, operating income, net income, and EPS," stated Mr. Chih-Cheng Chien, Chairman and CEO of Chunghwa Telecom." Third quarter revenue hit its highest level at NT$57.9 billion since 2017, reflecting the robust growth in our core business and ICT services. We are confident in our full-year financial results, supported by our leadership across all business segments."

"In the third quarter, our core telecom business reinforced its market leadership with outstanding 5G performance. Our 5G subscriber share rose to 38.8% and 5G penetration among smartphone users reached 44.7%. Meanwhile, successful high-speed migration initiatives and our effective promotion drove a NT$23 increase in fixed broadband ARPU, further driving revenue and profit up. Our Consumer Business Group benefited the most from the core business growth, resulting in positive year-over-year growth in its revenue and income before tax by 2.2% and 11.4%, respectively. Our Enterprise Business Group achieved a robust 14.5% ICT revenue growth, powered by rapid expansion in IDC, cloud and cybersecurity services. Internationally, our US subsidiary achieved impressive 70% revenue growth, driven by major AI supply chain projects, while our Southeast Asia operations performed exceptional and successfully introduced cybersecurity services to overseas clients," said Mr. Rong-Shy Lin, President of Chunghwa Telecom.

"We remain at the forefront of AI innovation, holding Taiwan's largest portfolio of AI-related patents and achieving first place in the recent global AI City Challenge contest," said Mr. Lin. "Furthermore, to monetize our AI innovations, we spun off an AI research team to establish InventAI subsidiary in October. In parallel, our cybersecurity subsidiary, CHT Security, successfully completed its public listing, with International Integrated Systems soon to follow in its upcoming IPO. In addition, we successfully completed a NT$3.5 billion sustainability bond issuance to promote biodiversity and EV initiatives during the quarter, demonstrating our commitment to ESG excellence and net-zero goals. These strategic moves combined with our expanding international footprint, underscore our dedication to building a future-ready infrastructure that delivers sustainable value for all stakeholders."

Revenue

Chunghwa Telecom's total revenues for the third quarter of 2025 increased by 4.2% to NT$ 57.92 billion.

Consumer Business Group's revenue for the third quarter of 2025 increased by 2.2% YoY to NT$ 35.18 billion. This remarkable performance was mainly driven by steady growth in mobile and fixed broadband services, along with the higher sales driven by iPhone demand. Additionally, the 11.4% year-over-year increase in CBG's income before tax was partly attributable to changes in certain expenses compared to the previous year, broadly supporting the Group's outperformance.

Enterprise Business Group's revenue for the third quarter of 2025 increased 7.4% YoY to NT$ 18.91 billion, mainly driven by our robust growth in ICT business, which saw a 14.5% year-over-year increase in revenue, fueled by the strong performance of our emerging services. While income before tax declined by 5.1% year-over-year, this was mainly owing to reduced fixed voice revenue during the quarter.

International Business Group's revenue for the third quarter of 2025 decreased by 1.9% to NT$ 2.33 billion, while its income before tax decreased 19.7% YoY. The decline was mainly due to reduced demand for international fixed voice services.

Operating Costs and Expenses

Total operating costs and expenses for the third quarter of 2025 increased by 3.6% to NT$ 45.82 billion, mainly due to the growing sales and ICT business, as well as the higher manpower cost.

Operating Income and Net Income

Operating income for the third quarter of 2025 increased by 6.4% to NT$ 12.10 billion. The operating margin was 20.9%, as compared to 20.5% in the same period of 2024. Net income attributable to stockholders of the parent increased by 4.8% to NT$ 9.44 billion. Basic earnings per share was NT$1.22.

Cash Flow and EBITDA

Cash flow from operating activities, as of September 30^th, 2025, decreased by 8.6% year over year to NT$ 45.49 billion.

Cash and cash equivalents, as of September 30^th, 2025, decreased by 24.6% to NT$ 23.54 billion as compared to that as of September 30^th, 2024.

EBITDA for the third quarter of 2025 was NT$ 22.11 billion, increasing by 4.0% year over year. EBITDA margin was 38.17%, as compared to 38.23% in the same period of 2024.

Business Highlights

Mobile

As of September 30^th, 2025, Chunghwa Telecom had 13.19 million mobile subscribers, representing a 1.3% year-over-year increase. In the third quarter, total mobile service revenue increased by 3.3% to NT$ 17.31 billion, while mobile post-paid ARPU excluding IoT SIMs grew 1.8% year over year to NT$ 562.

Fixed Broadband/HiNet

As of September 30^th, 2025, the number of broadband subscribers slightly increased by 0.6% to 4.45 million. The number of HiNet broadband subscribers increased by 1.4% to 3.78 million. In the third quarter, total fixed broadband revenue grew 3.2% year over year to NT$ 11.68 billion, while ARPU increased 3.0% to NT$ 810.

Fixed line

As of September 30^th, 2025, the number of fixed-line subscribers was 8.70 million.

Financial Statements

Financial statements and additional operational data can be found on the Company's website at http://www.cht.com.tw/en/home/cht/investors/financials/quarterly-earnings 

NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This press release 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 as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Chunghwa's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to the risks outlined in Chunghwa's filings with the U.S. Securities and Exchange Commission on Forms F-1, F-3, 6-K and 20-F, in each case as amended. The forward-looking statements in this press release reflect the current belief of Chunghwa as of the date of this press release and Chunghwa undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date, except as required under applicable law.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

NON-GAAP FINANCIAL MEASURES

To supplement the Company's consolidated financial statements presented in accordance with International Financial Reporting Standards pursuant to the requirements of the Financial Supervisory Commission, or T-IFRSs, Chunghwa Telecom also provides EBITDA, which is a "non-GAAP financial measure".  EBITDA is defined as consolidated net income (loss) excluding (i) depreciation and amortization, (ii) total net comprehensive financing cost (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other financing costs and derivative transactions), (iii) other income, net, (iv) income tax, (v) (income) loss from discontinued operations.

In managing the Company's business, Chunghwa Telecom relies on EBITDA as a means of assessing its operating performance because it excludes the effect of (i) depreciation and amortization, which represents a non-cash charge to earnings, (ii) certain financing costs, which are significantly affected by external factors, including interest rates, foreign currency exchange rates and inflation rates, which have little or no bearing on our operating performance, (iii) income tax (iv) other expenses or income not related to the operation of the business. 

C AUTIONS ON USE OF NON-GAAP FINANCIAL MEASURES

In addition to the consolidated financial results prepared under T-IFRSs, Chunghwa Telecom also provide non-GAAP financial measures, including "EBITDA". The Company believes that the non-GAAP financial measures provide investors with another method for assessing its operating results in a manner that is focused on the performance of its ongoing operations.

Chunghwa Telecom's management believes investors will benefit from greater transparency in referring to these non-GAAP financial measures when assessing the Company's operating results, as well as when forecasting and analyzing future periods. However, the Company recognizes that:

• these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company's T-IFRSs financial measures;
• these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company's T-IFRSs financial measures;
• these non-GAAP financial measures should not be considered to be superior to the Company's T-IFRSs financial measures; and
• these non-GAAP financial measures were not prepared in accordance with T-IFRSs and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principle.    

Further, these non-GAAP financial measures may be unique to Chunghwa Telecom, as they may be different from non-GAAP financial measures used by other companies. As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company's results to the results of other companies. Readers are cautioned not to view non-GAAP results as a substitute for results under T-IFRSs, or as being comparable to results reported or forecasted by other companies.

About Chunghwa Telecom

Chunghwa Telecom (TAIEX 2412, NYSE: CHT) ("Chunghwa" or "the Company") is Taiwan's largest integrated telecommunications services company that provides fixed-line, mobile, broadband, and internet services. The Company also provides information and communication technology services to corporate customers with its big data, information security, cloud computing and IDC capabilities, and is expanding its business into innovative technology services such as IoT, AI, etc. Chunghwa has been actively and continuously implemented environmental, social and governance (ESG) initiatives with the goal to achieve sustainability and has won numerous international and domestic awards and recognitions for its ESG commitments and best practices. For more information, please visit our website at www.cht.com.tw 

Contact:            Angela Tsai

Phone:              +886 2 2344 5488

Email:               chtir@cht.com.tw

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SOURCE Chunghwa Telecom

FAQ

What were Chunghwa Telecom's Q3 2025 total revenue and EPS (CHT)?

Q3 2025 total revenue was NT$57.92 billion and basic EPS was NT$1.22.

How did Chunghwa Telecom's net income and operating income perform in Q3 2025 (CHT)?

Net income attributable rose 4.8% to NT$9.44 billion; operating income rose 6.4% to NT$12.10 billion.

What happened to Chunghwa Telecom's cash position and operating cash flow as of Sept 30, 2025 (CHT)?

Cash and cash equivalents fell 24.6% to NT$23.54 billion; cash flow from operations declined 8.6% to NT$45.49 billion.

How did Chunghwa Telecom's business segments perform in Q3 2025 (CHT)?

Consumer revenue was NT$35.18 billion (+2.2%), enterprise NT$18.91 billion (+7.4%), international NT$2.33 billion (-1.9%).

What 5G and broadband metrics did Chunghwa Telecom report for Q3 2025 (CHT)?

5G subscriber share reached 38.8%, 5G smartphone penetration 44.7%, fixed broadband ARPU rose to NT$810.

Did Chunghwa Telecom beat its Q3 2025 guidance (CHT)?

Yes. Revenue, operating income, net income and EPS all exceeded the upper end of the company's proposed guidance.