On Monday, July 27, 2026, Telefônica Brasil (VIVT3) reported net income of R$ 2.8 bn in the first half of 2026 (1H26), an increase of 17.9% compared to the same period in 2025. In the second quarter of 2026 (2Q26), net income totaled R$ 1.573 bn, up 17.0% year over year.
The company’s total revenue reached R$ 15.757 bn in 2Q26, up 7.6% from 2Q25. In this period, mobile service revenue grew 6.6%, fixed-line revenue advanced 6.0%, and fiber (FTTH) revenue reached R$ 2.147 bn, an increase of 10.7% year over year. Revenue from data, ICT and digital services rose 7.8%, while devices and electronics were up 27.8%.
EBITDA (earnings before interest, taxes, depreciation and amortization) for 2Q26 totaled R$ 6.581 bn, an increase of 10.9% compared to 2Q25, with a margin of 41.8%, 1.3 percentage points higher than the previous year. In the accumulated result for 1H26, operating cash flow ex-licenses and IFRS 16 was R$ 8.2 bn, up 11.3% year over year, while free cash flow after leases totaled R$ 4.9 bn, equivalent to 15.6% of total revenue for the last 12 months.
On the operating side, the total mobile access base reached 105.1 mn in 2Q26, growth of 2.6% in 12 months, with 73.2 mn postpaid accesses (+6.9% year over year), representing 69.6% of mobile accesses. Average mobile ARPU was R$ 32.5, an increase of 4.5% year over year, and postpaid churn stood at 1.0%. In fiber broadband, Vivo reached 8.2 mn homes connected (+11.3% year over year) and 32.0 mn homes passed, with a penetration rate of 25.6%.
Net debt including IFRS 16 closed June 2026 at R$ 11.0 bn, equivalent to 0.4x EBITDA for the last 12 months, a level that was stable compared to the previous year. The company reported a 12-month free cash flow yield of 8.1% and reiterated its commitment to distribute at least 100% of 2026 net income, with R$ 7.0 bn already paid in 2026 and R$ 2.2 bn in interest on equity (JCP, Juros sobre Capital Próprio) approved through April 2027.
