TRUE shares dropped 2.90% to 13.40 baht after reporting second-quarter 2026 net profit of 6.554 billion baht, about 11% below Asia Plus Securities research estimates, due to higher-than-expected costs and expenses. Core profit came in at 6.735 billion baht, up 3.2% from the previous quarter, while gross margin improved to 35.4% from 26.9% a year earlier. The research team maintained a buy rating with a target price of 16.00 baht but cut its 2026–2027 core profit forecasts by 11%. It also flagged near-term pressure from China Mobile, which is considering selling up to 1% of TRUE, or no more than 345.5 million shares.
True Corporation Public Company LimitedQ2 profit missed estimates due to higher costs, and core profit forecasts were cut.
China Mobile LimitedChina Mobile is considering selling up to 1% of TRUE, but impact on China Mobile itself is unclear.
