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Telefonica Brasil (VIV)
NYSE:VIV
Earnings Data
Report Date
May 11, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.21Last Year’s EPS
0.12Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broad set of operational and financial positives: mid-to-high single-digit revenue growth, strong EBITDA and margin expansion (especially ex‑one-offs), accelerating fiber and mobile (5G) adoption, rapid growth in new businesses and digital B2B, improved cash generation and a solid balance sheet enabling generous shareholder distributions. Key challenges include rising COGS and personnel costs, one-off items that complicate comparability, a fragmented and competitive fiber market, some variability in tower/lease costs, and a noted inconsistency in reported net income figures in the transcript. On balance, the positive indicators (sustained revenue and cash flow growth, margin expansion, strong digital/B2B momentum, and shareholder returns) outweigh the lowlights.Company Guidance
Top-line Growth and Balanced Revenue Mix
Total revenues in Q4 rose 7.1% YoY, driven by balanced growth in mobile and fixed services. Mobile service revenue grew 7% YoY and fixed services improved 5.4% YoY. Q4 total revenues reached BRL 15.6 billion.
Strong Mobile Performance and 5G Adoption
Mobile base reached 103 million accesses (+0.7% YoY). Postpaid accesses expanded 6.5% YoY to 70.8 million (69% of mobile base) and postpaid ARPU grew 5.8% YoY. 5G customers rose to 23.1 million across 716 cities, lifting the 5G take-up ratio to 27.8% (up 8.6 percentage points YoY). Postpaid churn remained low at ~1%.
Fiber Expansion and Convergence (Vivo Total)
FTTH accesses reached 7.8 million (+12% YoY) with a footprint of 31 million homes passed (added 1.9 million homes in 2025). Take-up ratio improved to 25.2%. Vivo Total subscribers expanded 41% YoY; 62.7% of FTTH base is convergent and fiber churn fell to a record-low 1.4%.
New Businesses and Digital Services Momentum
New businesses revenues increased 27% over the last 12 months and now represent 12.1% of total revenues (up 1.9 pp YoY). B2C new businesses grew 20.7% and account for 3.3% of total revenues. Notable category growths: video & music OTT +18.1% YoY, consumer electronics +36% YoY, health & wellness ~+70% YoY. Vivo Ventures increased investment capacity to BRL 470 million (approved additional BRL 150 million).
B2B Acceleration
B2B revenues totaled BRL 13.5 billion (+13.7% YoY). Digital B2B grew 29.5% YoY and now represents 8.8% of total revenues. Within digital B2B: cloud +37.8% YoY, IoT & messaging +25.9% YoY, digital solutions +22% YoY, cybersecurity +8.4% YoY. B2B share of revenue increased by 140 bps YoY.
Profitability and Margin Expansion
Reported EBITDA grew 8.1% YoY in the quarter; excluding concession migration effects, EBITDA advanced 17.7% YoY with margin expansion of ~380 bps to an EBITDA margin around 42.3% (reported margin 42.9% noted). Operating cash flow before leases rose 13.4% YoY and after leases rose 17.3% YoY, with operating cash flow margin after leases at ~17%.
Strong Cash Generation and Balance Sheet
Free cash flow increased 11.4% YoY to BRL 9.2 billion; free cash flow yield reached 8.6% and FCF/revenues was 15.4%. Net cash position improved to BRL 2.3 billion (from BRL 1.4 billion) and net debt including IFRS16 was BRL 13.1 billion (~0.5x EBITDA). CapEx was BRL 9.3 billion (+1.1% YoY) and CapEx/Revenues fell to 15.6%.
Shareholder Returns and Capital Allocation
Vivo delivered on its commitment to distribute at least 100% of net income: distributed BRL 6.4 billion in 2025 (payout 103.4%, +9.1% YoY). Board approved distribution of BRL 7 billion for 2026 (BRL 4 billion capital reduction payable July; BRL 3 billion interest on capital payable April). New share buyback program up to BRL 1 billion approved.
Sustainability and ESG Recognition
Notable ESG achievements: top 10 Merco corporate reputation (best among telcos), 5th best in S&P Global CSA for the sector, CDP A-list for the sixth consecutive year, Corporate Knights named Vivo most sustainable company in Latin America of the world’s 100 most sustainable companies. Fundaçã o Telefônica Vivo reached 2+ million beneficiaries with BRL 47 million invested.
VIV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
VIV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $15.71 | $16.21 | +3.18% |
Oct 30, 2025 | $12.54 | $11.84 | -5.62% |
Jul 31, 2025 | $11.05 | $11.15 | +0.90% |
May 12, 2025 | $9.31 | $9.85 | +5.87% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Telefonica Brasil (VIV) report earnings?
Telefonica Brasil (VIV) is schdueled to report earning on May 11, 2026, Before Open (Confirmed).
What is Telefonica Brasil (VIV) earnings time?
Telefonica Brasil (VIV) earnings time is at May 11, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VIV EPS forecast?
VIV EPS forecast for the fiscal quarter 2026 (Q1) is 0.21.