Telecom Argentina reports nine-month and third-quarter 2026 results

what happened

Telecom Argentina published consolidated results for the nine months and the third quarter of 2026. For the third quarter the company posted a net loss of P$56,615 million, while for the nine months it reported net income of P$862,959 million. The quarterly loss was mainly driven by impairments of P$383,870 million tied to assets to be divested under the approval process for the TMA acquisition, along with licences and real estate held for sale.

Third-quarter revenue reached US$1,778 million, up 18% from a year earlier. Adjusted EBITDA came to US$642 million, with a margin of 36.1%. Net debt fell 9% to US$2,927 million, and net leverage dropped to 1.2x.

why it matters

The gap between dollar and inflation-adjusted figures matters here: in pesos, service revenue fell 2% in real terms, reflecting extraordinary TMA discounts of about P$39,930 million. The impairments do not affect EBITDA or cash flow, so operating metrics look steadier than the headline net loss.

market impact

Telecom Argentina shares and the peso: the large loss and one-off discounts weigh on sentiment, though EBITDA is growing.

• ↔Telecom Argentina shares mixed — impairment-driven quarterly loss offset by EBITDA growth and lower net debt

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