Telecom Argentina SA has announced its consolidated results for the third quarter of 2026, highlighting significant revenue growth despite facing various challenges. The company reported service revenues of $1.7 billion, marking a 19% increase compared to the same period last year. However, the results were affected by extraordinary discounts and inflationary accounting adjustments, which impacted the overall performance.

In its filing, Telecom Argentina stated, "Consolidated revenues for 3Q26 reached US$ 1,778 million (+18% vs. 3Q25) and service revenues US$ 1,714 million (+19% vs. 3Q25)." This growth reflects the company's ability to navigate a challenging economic landscape while adapting to consumer demands.

Founded in 1990, Telecom Argentina SA operates under the SIC classification of Telephone Communications (No Radiotelephone) [4813]. The company is listed on the New York Stock Exchange under the ticker TEO and also trades on the OTC market as TCMFF. Telecom Argentina is a large accelerated filer and has been actively filing with the SEC, with its most recent filing on November 12, 2026.

The filing indicates that the company's results for the nine-month period ending September 30, 2026, include the effects of adopting inflationary accounting in accordance with IAS 29. This means that the reported figures reflect the year-over-year effect of inflation, which reached 33.4% through September 2026.

Key highlights from the filing include:

"EBITDA for 3Q26 was US$ 642 million (+37% vs. 3Q25), with a margin of 36.1%. In pesos, it grew 13% in real terms (above inflation)."

Despite the positive revenue growth, the company faced challenges such as extraordinary discounts granted by TMA, which affected service revenues by approximately 4.3%. Excluding this effect, service revenues would have shown a slight growth compared to the previous year.

The filing also noted that net debt stood at $2.9 billion as of September 30, 2026, representing a 9% decrease from the previous year. The average life of the debt is 4.5 years, and the net leverage ratio improved to 1.2x net debt to EBITDA, down 0.7x from the previous year.

Telecom Argentina's performance is significant not only for its shareholders but also for the broader telecommunications industry, which is grappling with inflation and changing consumer preferences. The company's ability to adapt to these conditions may set a precedent for other players in the market.

Looking ahead, the filing does not specify what steps Telecom Argentina will take next. However, the company’s ongoing efforts to enhance its service offerings and manage costs will be crucial as it navigates the complexities of the current economic environment.