Telefônica Brasil (VIVT3), owner of Vivo, posted net income attributable to the company of R$ 5.3 bn (R$ 5,290 mn) in the first nine months of 2026 (9M26), up 23.3% from the same period of 2025, when it was R$ 4,291 mn. In 3Q26, profit was R$ 2.5 bn (R$ 2,456 mn), growth of 30.1% versus 3Q25. According to the company, the result reflects revenue growth, EBITDA expansion and lower depreciation and amortization expenses.
Total revenue in 3Q26 came to R$ 16.0 bn (R$ 16,023 mn), up 7.2% versus 3Q25, driven by postpaid (+9.1%), FTTH fiber (+5.7%) and Corporate Data, ICT and Digital Services (+4.9%). Mobile service revenue grew 7.4%, to R$ 10,437 mn, and fixed revenue rose 2.7%, to R$ 4,473 mn. Service revenue totaled R$ 14,910 mn, up 6.0%.
EBITDA (earnings before interest, taxes, depreciation and amortization) in 3Q26 was R$ 7,136 mn, up 10.0%, with a margin of 44.5% (+1.1 percentage point). Total costs rose 5.0%, to R$ 8,887 mn. Other revenue totaled R$ 365 mn, including R$ 352 mn in gains from the sale of copper assets.
Operating cash flow in 9M26 was R$ 12.7 bn (R$ 12,729 mn), up 13.5%, after capex (investments) of R$ 7,197 mn, or 15.2% of revenue. After leases, cash flow was R$ 8.4 bn (R$ 8,431 mn), up 17.0%. Free cash flow in 9M26 was R$ 7.3 bn (R$ 7,287 mn), up 6.1%, with R$ 2,426 mn in 3Q26 (+37.7%). In September 2026, the company had net cash of R$ 2,420 mn, excluding IFRS-16. Including IFRS-16, net debt was R$ 13.8 bn, or 0.5x EBITDA for the last 12 months.
The company ended the quarter with 120.2 million accesses (+3.0%), of which 106.4 million were mobile and 74.7 million were postpaid. Fiber reached 8.4 million homes connected (+10.8%).
In shareholder remuneration, the company totals R$ 7,315 mn in 2026: R$ 2,990 mn in JCP (interest on equity) paid in April, R$ 4,000 mn in capital reduction paid in July and R$ 325 mn in JCP payable on December 15, 2026. There is also R$ 3,195 mn in JCP declared in 2026 for payment by April 30, 2027 and R$ 1.0 bn available for share buybacks through February 2027. The company reaffirms its commitment to distribute at least 100% of 2026 net income.
