Thailand-based AIS lowered its full-year guidance for 2022, noting mobile revenue was under pressure due to the risk of higher inflation, which was likely to dent consumer spending.

In its earnings release, AIS stated the economic outlook is fragile despite signs of recovery in Q2.

Its guidance for 2022 was cut from mid-single digit growth of core service revenue, to flat or a slight decline.

Net profit in Q2 fell 10.4 per cent year-on-year to THB6.3 billion ($177.6 million) due to a 49 per cent jump in marketing expenses and a spike in forex losses.

Total revenue grew 5.9 per cent to THB45.3 billion, with a 23 per cent increase in device sales to THB8.8 billion offsetting flat mobile service revenue at THB29.2 billion.

AIS credited the growth to the government relaxing Covid-19 (coronavirus) controls, spurring an increase in tourist arrivals and business activities.

Its 5G user base grew from 1.1 million to 3.9 million, helping drive a 42 per cent increase in average data usage to 28GB a month.

Users of the next-generation service accounted for 8.6 per cent of total subscribers.

Post-paid subscribers rose 9.9 per cent to 12.1 million and prepaid 3.7 per cent to 33.4 million, with ARPU down 2.3 per cent to THB460 and 11 per cent to THB127, respectively due to intense competition.

Broadband revenue increased 22 per cent to THB2.5 billion and enterprise 38 per cent to THB1.3 billion.