Shein Launches $1.77 Billion Hong Kong IPO After Years of Listing Delays 
Trump Buys SpaceX Shares After Record IPO 
Nvidia AI Server Prices Set to Rise as Memory Costs Surge 
Hanmi Pharm Soars 30% on $2.3 Billion Genentech Obesity Drug Deal 
Alibaba Raises $10.2 Billion to Expand AI Infrastructure 
California Seeks Paramount Divestitures in Warner Bros. Merger 
Australia’s Big Four Banks Face Mortgage Slowdown as Valuations Draw Scrutiny 
Anthropic IPO Could Challenge SpaceX’s Record $86 Billion Offering 
Ampol Profit Surges as Refining Margins Hit Record Highs 
Unifor Reaches Tentative GM Deal for 4,600 Ontario Workers 
China EV Stocks Slide as Door Handle Recall Hits 4.3 Million Vehicles 
Nvidia Eyes Perplexity Investment at $30 Billion Valuation 
Samsung Shares Tumble 8% as $79 Billion Return Plan Disappoints 
J.P. Morgan Upgrades Diploma, Lifts Price Target to 8,250p 
Xiaomi Unveils Xring O3 Chip for Flagship Foldable Phone 
Exxon, LyondellBasell Eye Shell’s $8 Billion U.S. Chemicals Assets 
Amazon to Expand Drone Delivery to 500 U.S. Locations 
Add as a preferred source on Google
Telefónica SA (BME: TEF) reported stronger-than-expected first-quarter 2026 results, driven by solid revenue growth, improved profitability, and lower net debt. The Spanish telecom giant exceeded analyst forecasts for adjusted EBITDA and operating cash flow, signaling a positive start to the year despite mixed regional performance.
For the January–March 2026 period, Telefónica posted adjusted EBITDA of €2.84 billion, up 1.3% year-over-year and above analyst expectations of €2.79 billion. On a constant currency basis, adjusted EBITDA increased 1.8%, while the EBITDA margin improved to 34.9% from 34.6% in the same period last year.
Group revenue climbed 0.4% to €8.13 billion, beating consensus estimates of €8.07 billion. Service revenue also rose 1.1% in constant terms, reflecting stable customer demand across key markets. Adjusted operating cash flow after leases reached €1.38 billion, surpassing analyst projections of €1.30 billion.
Telefónica also reduced net financial debt by €1.50 billion during the quarter, bringing total debt down to €25.34 billion as of March 31, 2026. The company’s leverage ratio improved to 2.72 times adjusted EBITDAaL.
Free cash flow from continuing operations totaled €333 million, higher than market expectations of €300 million, although lower than the €583 million recorded in Q1 2025. Capital expenditure represented 10.7% of revenue, slightly below analyst forecasts.
Telefónica España delivered strong performance with revenue rising 2.0% year-over-year in constant terms to €3.23 billion. Meanwhile, Telefónica Brasil posted revenue growth of 7.4% to €2.51 billion and adjusted EBITDA growth of 8.7%.
However, Telefónica Deutschland faced challenges as revenue declined 8.6% due to customer migration issues and weaker handset demand.
The company reaffirmed its 2026 financial guidance and confirmed a €0.15 per share dividend payout scheduled for June 2027. Telefónica also continued portfolio optimization efforts, including the sale agreement of Telefónica Mexico for $450 million.
