1Q26 Results: Telefônica Brasil S.A.

Telefônica Brasil - (B3: VIVT3; NYSE: VIV) announces its results for 1Q26.

SÃO PAULO, May 11, 2026 /PRNewswire/ --

The Company delivered strong growth, supported by solid Revenue and EBITDA performance, while posting its highest YoY increase in Net Income since 1Q24.

^{1 – Other Revenues include Fixed Voice, xDSL, FTTC and IPTV. 2 – AL means After Leases. 3 - Net Income attributable to Telefônica Brasil. 4 - Earnings per Share (EPS) calculated based on net income attributable to Telefônica Brasil divided by the weighted average of outstanding shares in the period. EPS for 2025 was calculated considering the effects of the Split and Reverse Stock Split effective on April 15, 2025. 5 – Does not include amounts related to IFRS 16 effects and licenses. 6 – Operating Cash Flow is equivalent to EBITDA less Capex ex-IFRS 16 and licenses. 7 – AL Operating Cash Flow is equivalent to EBITDA After Leases less Capex ex-IFRS 16 and licenses.} 

Net revenue amounted to R$15,457.0 million, an increase of +7.4% YoY, driven by postpaid (+7.8% YoY) and FTTH (+9.3% YoY). In Postpaid, our strategy remains successful as we continue to grow our total postpaid customer base (+6.9% YoY), ending the quarter with 72.1 million accesses. Postpaid ARPU (excluding M2M and dongles) increased +0.8% YoY to R$52.6, reflecting an improved customer mix and service revenue dynamics.

Fixed Revenues grew by +5.1% YoY, reflecting the consistent growth of FTTH (+9.3% YoY) and Corporate Data, ICT and Digital Services (+8.5% YoY) revenues. In Fiber, we continue to grow both our footprint and penetration: in 1Q26, we reached 31.5 million homes passed (+6.2% YoY) and 8.0 million homes connected (+11.5% YoY), resulting in a +1.2 p.p. increase in take-up. Combined with this significant expansion, ARPU increased +0.8% QoQ, while churn remained at 1.5% for the quarter.

EBITDA recorded an increase of +8.9% YoY in 1Q26, totaling R$6,209.3 million, with a margin of 40.2%, +0.5 p.p. YoY, while EBITDA AL expanded +9.7% YoY, with a margin of 31.1%, +0.6 p.p. YoY.

In this quarter, Capex totaled R$2,047.5 million, an increase of +9.6% YoY, representing 13.2% of revenues, +0.3 p.p. YoY, in line with 1Q25 and below our 2025 average, as we continue to pursue optimal Capex allocation. We continued to expand our 5G network, now live in 905 municipalities and covering 71% of the Brazilian population along with fiber expansion, reaching 453 cities.

Operating Cash Flow summed R$4,161.8 million, +8.5% YoY, resulting in a margin of 26.9% (+0.3 p.p. YoY). Net income for the period hit R$1,261.1 million, rising +19.2% YoY, the highest increase since 1Q24.

Shareholder remuneration totaled R$6,990.0 million in the period committed for distribution, already surpassing FY2025 by +9.6%, of which R$2,990.0 million related to interest on equity declared in 2025 and R$4,000.0 million related to capital reduction, with an additional R$890.0 million interest on equity declared YTD. This year, the Board of Directors approved a new Share Buyback Program in the amount of up to R$1.0 billion, to be repurchased until February 2027. We reaffirm our commitment to distribute at least 100% of FY2026 net income.

TELEFÔNICA BRASIL – Investor Relations 
[email protected]

To download the complete version of the Company's earnings release, please visit our website: https://ri.telefonica.com.br/en

SOURCE Telefônica Brasil S.A.