MTN Hits All-Time High as Buyers Price in Earnings Beat
MTN Nigeria’s share price is gaining traction in the stock market as buyers step up to price in the telecom company’s Q1 earnings beat.
Share price rose N20 to N890 during the early trading session on Thursday in reaction to the recent unaudited financial statement for the first quarter of 2026.
The telecom giant delivered exceptional financial performance in the first quarter ended March 31, 2026, posting its strongest quarterly earnings on record and significantly surpassing the already impressive Q1 2025 results.
Total revenue grew by 41.62% year-on-year to ₦1.498 trillion from ₦1.058 trillion, driven by broad-based growth across all revenue streams.
The profitability picture was even more striking, according to analysts at Cowry Asset Management Limited. MTN’s profit from operating activities surged 84.50% to ₦632.3 billion from ₦342.7 billion posted in the equivalent period in 2025.
This reflects not just revenue strength but meaningful operating leverage as total revenue grew 41.62%, analysts said. Total operating expenses rose 45.05% to ₦548.1 billion.
Analysts said a significant portion of the company’s operating expenses was driven by a 173.48% jump in employee expenses to ₦65.8 billion and an 86.96% rise in other operating expenses to ₦103.4 billion.
The market has opened and is reacting positively to the results. MTNN shares trade at 890 per share, up from a previous close of ₦870, as buyers step in to price in the earnings beat. Lafarge Africa Enters New Cycle, Market Reprices Growth Prospects
