Research

Rakuten – Q1 25 Quick Take: Mixed, mobile momentum fading

KDDI – Q4 24 Quick Take: Good revenue growth; big buyback again; but guidance in line

SATS: updated analysis on licenses at risk

OTE Q1 25: Solid results, H2 set-up very nice

Court Appears Skeptical of Both Sides in Argument over Trump Tariffs

Telefonica: Q1 25 – The three things that stand out to us

Bouygues Q1 25: Group results ahead thank to non-Telecoms

Tencent: 1Q25 Flash - Top-line Beat Across Each Major Segment

TME: 1Q25 Results - Further Upside in Online Music ARPU

European High Yield Quarterly with estimates, multiples and asset cover (SOP): Q4 24

SE: 1Q25 Results - Improving Margin Trend

JD: 1Q25 Results - JD Retail Could Remain Resilient in 2Q and FY25

Bharti Airtel – Q4 FY25 Quick Take: Dividend doubled (again). Strong margins. Bodes well for Singtel.  

Inwit: 1Q25: Solid quarter supported by small cell strength

SoftBank 4FQ24: GenAI end-to-end portfolio shaping up. Attractive Valuation.

Vivo (Buy, TP BRL33, +21%) - Q1 25: Solid start to the year

Infineon: strong recovery amid FX and tariff headwinds. We see upside.

Wolfspeed: suspension of coverage.

FCC Chair Escalates DISH/SpaceX battle

SE: 1Q25 Flash - Meaningful Beat in Margins