The company reported a net profit of € 862 million for the second quarter. The results were affected by the evolution of exchange rates, mainly due to the depreciation of the Argentine peso and the Brazilian real against the euro; and due to the adjustment for inflation in Argentina. The total access base was reduced by 6.8 million accesses due to the sale of Telefónica Nicaragua, Guatemala and Antares. Net debt decreased for the ninth consecutive quarter and reached € 40.23 billion at the end of June.

Telefónica's results for the April-June period showed a 4.5% decrease in net profit, to € 862 million. If you consider the entire first semester, there was an increase of 2.8% to € 1.787 billion. The company based the decline in a negative impact of exchange rates, especially due to the depreciation of the Brazilian real and the Argentine peso against the euro: in the second quarter the currencies reduced the annual growth of income by 4.1 percentage points (pp).

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Telefónica's net profit fell 4.5% between April and June

MORE ANALYSIS

Operators maintain profits with limited investment and cost controls

That is according to a report by analyst firm MTN Consulting, which estimated EBIT margins at 15.7% in the fourth quarter of 2025.

CNT Ecuador turns profitable, accelerates growth in 5G and fiber

Ronald Spina is General Manager of the National Telecommunications Corporation (Corporación Nacional de Telecomunicaciones, CNT). He said the state-owned Ecuadorian operator’s turnaround was achieved while improving its EBITDA margin and accelerating the rollout of FTTH and 5G.

Telefónica’s two sides: growth in core markets, Latin America sales weigh on profit

Liberty Latin America consolidated postpaid growth in the first quarter

The operator added 50,000 new lines across the countries in which it operates, with Costa Rica, Panama, and Jamaica standing out. It also recorded slight increases in RGUs in Costa Rica and Jamaica. Total revenues reached US$1.083 billion, in line with the same period a year earlier.

Millicom acquisitions drive 45% revenue growth

Revenue rounded out at US$2 billion in the first quarter of 2026. Mobile customers reached 57.3 million, a 37.8% increase compared with a year earlier.

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