Several research results suggest that the capital expenditure (CAPEX) has a significant effect on the change of number of customer, profit (current year profit), and return on investment (ROI). This research analyzes the effect of capex variable on revenue, number of customer, profit, and ROI. The periods used in this study ranges from 2009 to 2016. Results of analysis indicate that CAPEX has a significant effect on the changes (fluctuations) of corporate earnings, the number of costumer, profit and ROI.Keywords : Fluctuation, CAPEX, Profit, ROI, Telecommunication
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