Telefónica Brasil, the subsidiary that operates under the Vivo brand in the Brazilian market, recorded net profit of 5.290 billion reais (852 million euros at the current exchange rate) between January and September 2026. This figure represents a year-on-year increase of 23.3% compared with the same period in 2025, according to the results submitted by the company.
In the period between July and September, the telecom company obtained net earnings of 2.456 billion reais (395 million euros), which translates into an improvement of 30.1% compared with the third quarter of the previous fiscal year.
At the end of the third quarter, Vivo accounted for 120.2 million accesses, 3% more than one year earlier. Of these, 106.4 million corresponded to mobile accesses, a segment that advanced 3.4% compared with the same period in 2025.
Accumulated net operating income in the first nine months of the year amounted to 47.237 billion reais (7.604 billion euros), 7.4% more on a year-on-year basis. Within this item, revenue from the mobile business increased by 6.9%, to 30.500 billion reais (4.909 billion euros) at the close of September.
Gross operating profit (Ebitda) reached in that same period 19.926 billion reais (3.207 billion euros), which represents an increase of 9.9%, accompanied by a margin of 42.2%, one percentage point higher than that recorded one year earlier.
Between July and September, Vivo’s net operating revenues grew by 7.2% year-on-year, to 16.023 billion reais (2.579 billion euros). Included in this figure are revenues from mobile services of 10.437 billion reais (1.680 billion euros).
This performance was driven largely by the expansion of the postpaid customer base, which reached 74.7 million accesses, 7.1% more, aided by migrations from prepaid and the acquisition of new users. This momentum made it possible to reach a new all-time high in mobile average revenue per user (mobile ARPU), which stood at 32,90 reais, 4.4% higher.
The devices and electronics area, which encompasses the sale of mobile phones, accessories, and other equipment, also accelerated its progress, with a rebound of 26.6% and revenues of 1.113 billion reais (179 million euros).
Operating costs totaled 27.311 billion reais (4.396 billion euros) through September, 5.6% more. Only in the third quarter did they reach 8.887 billion reais (1.431 billion euros), which represents an increase of 5% compared with the same period of 2025.
In terms of investments (CapEx), Vivo allocated 2.561 billion reais (412 million euros) during the third quarter, 1.6% less than in the same period of the previous year and equivalent to 16% of net revenues. In this way, the cumulative outlay through September stood at 7.197 billion reais (1.158 billion euros), 4.1% more year-on-year and 15.2% of net revenues.
"The results reflect a company (Vivo) that evolves steadily and, at the same time, continues to transform its business," said Christian Gebara, president of Vivo. "We have a solid operation, which allows us to invest in the best connectivity technologies, expand our ecosystem of digital services in collaboration with the leading companies in the market, and innovate in order to be increasingly relevant to our customers," he added.
For his part, Rodrigo Monari, Vivo's chief financial officer, highlighted that the operator concluded the quarter with profitable growth and strong cash generation, supported by financial discipline and operational efficiency.
"The evolution of Ebitda and net profit reflects the resilience of our business model and strengthens our ability to finance the expansion of operations, seize new growth opportunities, and continue to offer attractive returns to shareholders," he explained.