Telkom Indonesia stock: Q3 revenue grows as targets stay unchanged

Published on 11/04/2026 at 15:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Telkom Indonesia stock is backed by stronger nine-month revenue and normalized profit. Management kept its 2026 targets unchanged.

Revenue Growth Meets Margin Pressure

Telkom Indonesia lifted nine-month revenue 3.5 percent year over year to IDR 113.5 trillion.
Normalized net income increased 3.9 percent, while reported net income declined 4.3 percent.
Management retained its 2026 targets despite an EBITDA margin below the full-year objective.

TLK, US7156841063, Illustration mit AI erstellt.

Telkom Indonesia reported stronger nine-month operating performance through September 2026, while margin pressure and one-off effects kept reported earnings under strain. The figures and unchanged outlook were covered by Investing.com on November 3 and updated on November 4.

Growth Reaches The Guidance Range

Consolidated revenue rose 3.5 percent year over year to IDR 113.5 trillion in the first nine months. Telkomsel revenue increased 1.8 percent to IDR 82.9 trillion, supported by 7.7 percent growth in data revenue, according to the earnings-call account.

Telkom Indonesia stock traded at 9.25 euros on Lang & Schwarz at 15:35 CET on Wednesday, November 4, 2026. Investors can follow the real-time quote of Telkom Indonesia stock.

Reported Profit Tells A Different Story

Reported net income fell 4.3 percent year over year to IDR 14.4 trillion. After adjustments for one-off effects, normalized net income rose 3.9 percent to IDR 16.5 trillion. The difference reflected transformation advisory costs, higher depreciation after an accounting policy change and mark-to-market losses on investments.

EBITDA increased 2.0 percent to IDR 55.5 trillion, but the EBITDA margin was 48.9 percent, below management's full-year target of more than 50 percent. Third-quarter revenue declined 2.7 percent sequentially to IDR 27.3 trillion, reflecting seasonal and competitive pressure at Telkomsel.

Targets Remain Unchanged

Management retained its 2026 targets for revenue growth of 1 percent to 3 percent, an EBITDA margin above 50 percent and a capital-to-revenue ratio of 17 percent to 19 percent. It expects seasonal demand, pricing discipline and network monetization to support a stronger fourth quarter, while the margin target remains dependent on operational improvement.

The S&P 500 provides the broader US market backdrop for Telkom Indonesia's American depositary receipt.

More updates are available in More news and analyses on Telkom Indonesia stock.