Telecom Argentina Q3 2026 slides: margin expansion, 5G rollout accelerate

Telecom Argentina reported improved financial results for the third quarter of 2026 on November 13, despite Argentina's challenging economic situation. Revenue grew by 18% in real peso terms, reaching $1.74 billion, while adjusted earnings per share outperformed forecasts and hit $0.3078. The company's EBITDA expanded by 37% year-on-year to $642 million, with the margin improving by 4.8 percentage points to 36.1%.

Free cash flow nearly doubled to $231 million, representing 36% of EBITDA. The company's subscriber base saw a strategic shift towards higher-value customers, with postpaid customers now representing 45% of the mobile base. Telecom Argentina's FTTH penetration increased to 40% of its broadband footprint, and ARPU across all service categories expanded, benefiting from the peso's real appreciation. The company's net debt declined by 9% to $2,927 million.