Telecom Argentina S.A. - TEO STOCK NEWS

Telecom Argentina (NYSE: TEO) announced its 1H24 and 2Q24 results, highlighting key financial metrics and operational performance. Consolidated Revenues for 1H24 were P$1,666,979 million, a decrease of 13.3% compared to 1H23. Service Revenues totaled P$1,572,594 million, down 11.7% year-over-year. The company noted high inflation, impacting performance.

Mobile accesses in Argentina increased to 21.2 million, while broadband and Pay TV subscribers saw slight declines. Operating Income before D, A & I margin improved to 29.7% in 1H24 and 29.1% in 2Q24.

Net income soared to P$859,223 million, driven primarily by exchange rate gains. Investments amounted to P$315,946 million, representing 19% of revenues. Net Financial Debt decreased by 34.2% in real terms to P$2,189,225 million.

Despite a challenging economic environment, there was a noted recovery trend in Service Revenues in 2Q24. The company remains focused on expanding its 4G and 5G networks and improving broadband services.

Telecom Argentina S.A. announced a Net Income of P$675,032 million for the first quarter of fiscal year 2024, with Consolidated Revenues of P$683,916 million. Despite a decrease in service revenues due to lower price increases than inflation, the subscriber base showed growth. Operating costs decreased, resulting in stable Operating Income. The Company recorded a net income increase mainly due to exchange rate gains. Investments in PP&E increased, while net financial debt decreased. Mobile services and internet revenues declined, while cable TV services saw a significant decrease. The Company faces challenges in maintaining revenues amidst intense competition in the market.

Telecom Argentina (NYSE:TEO) submits its 2023 Annual Report on Form 20-F to the SEC, detailing financial statements and shareholder information. The report can be accessed online or requested in hard copy for free. Telecom Argentina is a prominent telecommunications company in Argentina, offering a range of services in multiple countries.

Telecom Argentina S.A. announced a net loss of P$249,687 million for the period ended December 31, 2023. Despite challenges like inflation and devaluation, the company saw improvements in service revenues, customer base stability, and operating margins. However, net financial debt increased, and there were declines in consolidated revenues and various service segments.

Telecom Argentina S.A. (TEO) announced a net income of P$85,164 million for the nine-month period ended September 30, 2023. The Company's consolidated revenues amounted to P$1,030,771 million in 9M23, with a decrease of 8.1% in constant currency vs. 9M22. Mobile clients in Argentina reached 20.8 million in 9M23, while cable TV subscribers totaled 3.1 million. Operating Income before Depreciation, Amortization and Impairment of Fixed Assets (D, A & I) amounted to P$297,354 million, with a margin over revenues of 28.8%. The Company recorded a net income of P$85,164 million in 9M23, compared to a loss of P$389,587 million in 9M22.

Telecom Argentina S.A. (NYSE: TEO; BYMA: TECO2) announced a net income of P$39,407 million for the six month period ended June 30, 2023. The company's consolidated revenues amounted to P$517,253 million in 1H23, showing a decrease of 9.3% in constant currency compared to 1H22. Mobile clients in Argentina reached 20.6 million in 1H23, while cable TV subscribers totaled 3.1 million, and broadband accesses amounted to 4.1 million. Operating income before depreciation, amortization, and impairment of fixed assets was P$146,764 million, with a margin over revenues of 28.4%. The company recorded a net financial debt of P$621,962 million in 1H23, showing a decrease of 7.6% in constant currency compared to 1H22.

Telecom Argentina (NYSE: TEO) has submitted its 2022 Annual Report on Form 20-F to the U.S. Securities and Exchange Commission (SEC) on March 20, 2023. The report contains audited financial statements as of December 31, 2022, and is available on the Company's Investor Relations website and the SEC site. The company has 2,153,688,011 issued and outstanding shares as of the end of 2022. Shareholders can request a hard copy of the report at no charge. The release includes a disclaimer about forward-looking statements and potential risks affecting future performance.

Cablevisión Holding S.A. (BCBA:CVH, LSE:CVH, Level 1: CVHSY), the controlling shareholder of Telecom Argentina S.A. (NYSE:TEO), announced its Full Year and Last Quarter 2022 Results on March 10, 2023. Total Revenues declined by 12.0% year-on-year to Ps. 729,182 million amid high inflation of 94.8%. EBITDA fell 22.6% to Ps. 199,796 million, leading to a reduced EBITDA Margin of 27.4%. The company reported a substantial Net Loss of Ps. 168,757 million, largely due to a goodwill impairment loss of Ps. 204,744 million. Despite a lower cost structure, the financial results reflect ongoing economic challenges in Argentina.