Welcome to our dedicated page for Telecom Argentna news (Ticker: TEO), a resource for investors and traders seeking the latest updates and insights on Telecom Argentna stock.
Telecom Argentina S.A. reports developments tied to its telecommunications operations in Argentina, where it provides mobile service, fixed-line telephony, data transmission, Internet access and pay TV. Company updates also reference mobile, broadband and satellite TV services in Paraguay and pay TV services in Uruguay.
Recurring news covers consolidated results prepared under IFRS and IAS 29 inflation accounting, service revenue trends, net financial debt, customer-access metrics and segment performance across mobile, fixed broadband and pay TV. Recent updates also describe the consolidation of Telefónica Móviles Argentina, regulatory filings with Argentine communications and competition authorities, and related results reported by controlling shareholder Cablevisión Holding.
Telecom Argentina reported a strong net income of P$9,012 million for 1Q21, up 139.2% year-over-year, despite real terms service revenue declining by 9.2% to P$77,116 million amid high inflation of 42.6%. Operating income fell 34.5% to P$5,387 million, impacted by strict cost controls, while net financial gains reached P$6,771 million due to favorable FX differences. The company invested P$19,522 million, representing 23.6% of revenues, focusing on service expansion and network improvements.
Telecom Argentina (NYSE: TEO) has submitted its 2020 Annual Report on Form 20-F to the SEC, detailing its audited financial statements for the fiscal year ending December 31, 2020. This report is available for download on the Company's website and the SEC's portal. As of December 31, 2020, Telecom Argentina had 2,153,688,011 shares issued. The Company, a key player in Argentina's telecommunications sector, offers various services including fixed-line telephony, mobile, and internet services. Shareholders can request a hard copy of the Form 20-F free of charge.
Telecom Argentina reported a net loss of P$5,104 million for FY20, a 3.6% improvement from FY19. Consolidated revenues fell to P$301,596 million, reflecting a 6.5% decline. Service revenues decreased by 6.3% in real terms, with mobile subscribers down to 18.4 million. Operating income before depreciation and amortization decreased 2.0% to P$102,888 million. Investments dropped by 30.8% to P$66,750 million, comprising 22.1% of consolidated revenues. The company also announced a pricing increase of 20% effective January 2021, following a court ruling that suspended prior price regulations.
Telecom Argentina (TEO) reported a Net Loss of P$1,249 million for 9M20, a 92.8% improvement year-over-year. Consolidated Revenues were P$208,220 million, down 4.6% from 9M19, driven by a 3.6% decline in Service Revenues to P$197,044 million. The subscriber base saw a slight drop in mobile clients, totaling 18.7 million, while cable TV subscribers rose by 2.0% to 3.6 million. Operating Income before Depreciation and Amortization increased by 2.4%, reaching P$74,455 million. Net Financial Debt decreased 8.0% to P$132,450 million.
Telecom Argentina reported a Net Income of P$1,961 million for 1H20, marking a 79.6% decline compared to 1H19, primarily due to foreign exchange losses.
The Consolidated Revenues stood at P$131,158 million, a 3.0% drop year-over-year, while Operating Income before D&A improved by 5.3% to P$47,852 million. Investments decreased by 33.9% to P$22,766 million, representing 17.4% of revenues.
Mobile subscribers slightly decreased to 18.8 million, but broadband accesses grew slightly. Financial Debt increased by 21.9% to P$131,032 million.