Q3 earnings

Axiata Group dropped into the red in Q3, as a strengthening US dollar led to significant forex losses at many of its operating companies, offsetting revenue gains in its key Malaysia and Indonesia markets and infrastructure unit.

Chinese handset maker Xiaomi fell into the red during Q3, being hit by a 10 per cent revenue decline, as it lamented global macroeconomic turbulence which weighed on global smartphone demand.

Baidu co-founder and CEO Robin Li used an earnings call to express confidence advertising revenue across different verticals including travel, franchising and local services will rebound as Covid-19 (coronavirus) lockdowns in major cities are lifted.

Chinese internet giant Tencent inched back into profitability in Q3, but revenue continued to slide with declines in advertising, domestic games and social networks offsetting gains in overseas games and fintech services.

Iliad Group CEO Thomas Reynaud argued its Q3 was marked by contrasts, after it delivered solid earnings in an uncertain macroeconomic environment on the back of mobile subscriber growth. The company reported a 12.

Thailand-based True Corp was slammed by rising costs in Q3, widening its loss for a third consecutive quarter, with its mobile business the lone driver of growth on the back of post-paid subscriber gains. Mobile service revenue rose 1.

Sri Lanka-based Dialog Axiata booked growth across all business units in Q3, with increases in ARPU and post-paid users helping to drive double-digit gains in mobile.