(Bloomberg) --  XL Axiata shares jump as much as 7.4% on Thursday, leading gains among Indonesian telecommunication firms, after reporting the strongest surge in year-end holiday data traffic among competitors.

XL’s data traffic was 15% higher during the holiday period compared to normal days vs. Telkomsel’s +14% and Indosat’s +9%, UOB-Kay Hian analyst Paula Ruth wrote in a note

Net income expected to grow 19.3% in 2024; +14% in 2025

Maintain buy call with PT of 2,700 rupiah

Shares of rival Telkom rises as much as 1%, Indosat +2.1% and Smartfren +5.7%

XL Axiata $EXCL Gets Shareholder Approval to Add New Business Lines