$VIV · TELEFONICA BRASIL S.A.
Telefônica Brasil (VIV) reported Q3 2026 results: net revenue of R$16,022.7 million (+7.2% YoY), EBITDA of R$7,135.6 million (+10.0% YoY) with a 44.5% margin, and net income of R$2,456.4 million (+30.1% YoY). Free cash flow reached R$2,426.3 million (+37.7% YoY). The company reaffirmed its commitment to distribute at least 100% of annual net income, having paid R$6,990.0 million in 9M26.
- Net income rose 30.1% YoY to R$2,456.4 million, the highest since 4Q23.
- EBITDA grew 10.0% YoY to R$7,135.6 million with margin up 1.1 p.p. to 44.5%.
- Free cash flow jumped 37.7% YoY to R$2,426.3 million (15.1% margin).
- 9M26 shareholder remuneration of R$6,990.0 million already exceeds FY2025 by 9.6%.
- Net cash position of R$2,420.4 million ex-IFRS 16; net debt R$13,760.8 million including leases.
Extended-hours last trade at $11.73, up 0.69% vs the $11.65 regular close, a modestly positive reaction to strong earnings.
Strong double-digit profit and cash-flow growth with a reaffirmed 100% payout commitment makes this a notable income-and-growth story for investors.
Brazilian telecom leader showing double-digit EBITDA growth and disciplined capex (down 1.6% YoY) while expanding 5G to 73% population coverage and fiber to 32.4 million homes passed.
Net financial expense rose 12.4% YoY to R$748.9 million on higher FISTEL TFF monetary adjustments and lease liabilities. Gross debt rose 21.1% YoY to R$4,817.5 million after assuming R$0.9 billion in FiBrasil debentures.