Analysts cut forecast on Maxis earnings estimate after lower Q3 profit

“The higher operating costs were due to upfront expenses to drive Maxis’ aggressive expansion plan, as well as the increase in business volume, ” Affin Hwang Capital said.

PETALING JAYA: Several analysts have cut their forecast on Maxis Bhd’s earnings estimate for this year and next year, after the telecommunication company posted a drop in quarterly profit.

Affin Hwang Capital has cut its forecast on Maxis’s earnings estimate by 10%-13% for 2019-2021 due to higher operating costs, higher depreciation and amortisation costs and higher device costs.