Telecom Argentina SA (TEO)

Telecom Argentina S.A. Announces Consolidated Results for the First Quarter of Fiscal Year 2026 ("1Q26")(2)May 11, 2026 5:40 PM
ACCESS NewswireMarket Cap (NYSE: TEO): US$ 5,091.3 million1Note: 1Q26 figures include the effects of the adoption of inflationary accounting in accordance with IAS 29. Therefore, comments regarding 1Q26 results and changes in 1Q25 results mentioned in this press release correspond to "restated for inflation" or "constant" figures. For analysis purposes, it is important to highlight that the comparative results (March 2025) reflect the year-over-year effect of inflation through March 2026, which reached 32.6%. Additionally, the consolidated results for 1Q26 include the full contribution of TMA, whereas in the comparative period, 1Q25, TMA's contribution to the consolidated figures accounted for only one month.During 1Q26, consolidated revenues reached P$2,357,686 million. Service revenues totaled P$2,275,239 million in 1Q26, with the following performance:Telecom (excluding TMA)³: +1.6% vs. 1Q25.TMA: -1.3% vs. 1Q25. Telecom does not determine TMA's commercial or pricing policy.Consolidated: +33.6% vs. 1Q25, including 3 months of TMA revenues versus only one month in the comparative 1Q25 period.During 1Q26, the evolution of the customer base in Argentina was as follows:Telecom (excluding TMA): Total mobile accesses declined by 8.9%, reaching 19.4 million. This decrease is largely explained by disconnections of prepaid lines most of them with no recorded traffic, with no impact on mobile service revenues. Meanwhile, the fixed segment recorded increases in the number of accesses: pay TV accesses totaled 3.3 million in the same period (+148 thousand or +4.7% vs. 1Q25), while the fixed broadband segment recorded a 3.3% increase, totaling 4.2 million accesses (+135 thousand vs. 1Q25).TMA: Total mobile accesses (including M2M) amounted to 19.2 million (+340 thousand or +1.8% vs. 1Q25). Meanwhile, the fixed broadband segment totaled 1.6 million accesses (+75 thousand or +4.8% vs. 1Q25). Lastly, pay TV subscribers totaled 0.4 million in the same period (-7 thousand or -1.8% vs. 1Q25).During 1Q26, a consolidated Operating Income before Depreciation, Amortization and Impairment of Fixed Assets ("Operating Income before D, A & D") margin of 34.8% was achieved (+1.6 p.p. vs. 1Q25). Telecom's margin (excluding TMA) recorded a significant improvement, exceeding 38% in 1Q26. Operating Income before D, A & D totaled P$819,491 million (+36.7% vs. 1Q25, a period that includes only one month of TMA).During 1Q26, consolidated net income amounted to P$642,984 million (vs. net income of P$123,593 million in 1Q25). Net income for the period is mainly explained by higher foreign exchange gains recorded in financial results, measured in real terms, as a result of the real appreciation of the peso during the quarter.Consolidated CAPEX (excluding right-of-use assets) totaled P$433,768 million (+85.1% vs. 1Q25) and represented 18.4% of consolidated revenues (increasing vs. 1Q25, when it reached 13.0% of revenues).Consolidated Net Financial Debt totaled P$4,296,790 million as of March 31, 2026, decreasing in real terms (-15.6% in constant currency vs. December 31, 2025).(1) Market capitalization as of May 8, 2026.
(2) Unaudited non-financial information
(3) This refers to the exclusion of the consolidated results from the segment "ICT Services Provided in Argentina - TMA Networks," as presented in Table 3. The same criteria will apply going forward to any results labeled as "Telecom (excluding TMA)."BUENOS AIRES, ARGENTINA / ACCESS Newswire / May 11, 2026 / Telecom Argentina S.A. ("Telecom Argentina", "Telecom" or the "Company") (NYSE:TEO)(BYMA:TECO2) announced today a consolidated Net Income of P$642,984 million for the period ended March 31, 2026. The consolidated Net Income attributable to the Controlling Company amounted to P$636,682 million.Comparative figures for the previous fiscal year have been restated for inflation so that the resulting information is presented in terms of the current measurement unit as of March 31, 2026. IAS 29 IAS 29 (in million P$ adjusted by inflation, except where noted)* As of March 31, As of March 31, 2026 2025 ?$ ?% Consolidated Revenues 2,357,686 1,806,103 551,583 30.5%Consolidated Operating Income before D, A & I 819,491 599,312 220,179 36.7%Consolidated Operating Income 295,758 148,384 147,374 99.3%Consolidated Net Income before income tax expense 963,641 282,382 681,259 - Consolidated Net Income attributable to Controlling Company 636,682 118,100 518,582 - Consolidated Shareholders' equity attributable to Controlling Company 8,094,054 7,982,090 111,964 1.4%Consolidated Net Financial Debt (4,296,790) (4,756,450) 459,660 -9.7%Consolidated Investments in PP&E, intangible assets & rights of use assets ** 513,992 292,277 221,715 75.9% Telecom Fixed lines in service (in thousand lines) *** 2,790 2,687 103 3.8%Mobile customers (in thousand) 22,100 23,985 (1,885) -7.9%Personal (Argentina) 19,443 21,347 (1,904) -8.9%Núcleo (Paraguay) -including Wimax customers- 2,657 2,637 19 0.7%Broadband accesses in Argentina (in thousand) 4,188 4,053 135 3.3%Pay TV Subscribers (Includes Argentina, Uruguay and Paraguay - in thousand) 3,499 3,370 130 3.9% Average Revenue per user (ARPU) Mobile Services (in P$ - Restated by inflation) 10,766.4 9,066.5 1,699.9 18.7%Average Revenue per user (ARPU) Broadband (in P$ - Restated by inflation) 28,389.6 29,887.6 (1,498.0) -5.0%Average Revenue per user (ARPU) Pay TV (in P$ - Restated by inflation) 20,077.8 20,015.8 62.0 0.3% Telefónica Móviles Argentina (TMA) Fixed lines in service (in thousand lines) *** 2,081 2,130 (49) -2.3%Mobile customers (in thousand) 19,229 18,889 340 1.8%Prepaid + Postpaid (excluding M2M) 16,324 16,237 87 0.5%Machine-to-machine (M2M) 2,905 2,652 253 9.5%Broadband accesses (in thousand) 1,637 1,562 75 4.8%Pay TV Subscribers (in thousand) 410 417 (7) -1.8% Average Revenue per user (ARPU) Mobile Services (in P$ - Restated by inflation) 9,122.8 9,187.6 (64.8) -0.7%Average Revenue per user (ARPU) Broadband (in P$ - Restated by inflation) 25,793.5 27,769.0 (1,975.5) -7.1%Average Revenue per user (ARPU) Pay TV (in P$ - Restated by inflation) 22,689.3 25,688.1 (2,998.8) -11.7%* Figures may not add up due to rounding.
** In constant currency - includes additions from rights of use as of March 31, 2026 for P$80.224 million and as of March 31, 2025 for P$57.933 million.
*** Telecom figures include IP telephony lines, which totaled approximately 2.36 million and 1.94 million as of March 31, 2026 and March 31, 2025, respectively. TMA figures include IP telephony lines, which totaled approximately 1.58 million and 1.46 million as of March 31, 2026, and March 31, 2025, respectively.The following table shows the evolution of the national consumer price index (National CPI - according to INDEC's official statistics) as of December 31, 2025, and as of March 31, 2025, and 2026: As of March 31,2025 As of December 31,2025 As of March 31,2026 Annual 55.9% 31.5% 32.6%During 1Q26, consolidated revenues reached P$2,357,686 million, of which P$2,275,239 million corresponded to Service Revenues. Notably, during this period, Service Revenues showed a positive evolution relative to inflation, as detailed below. Consolidated Telecom Consolidated(Excluding TMA) TMA1 1Q26 vs. 1Q25 +33.62 +1.6% -1.3%Telecom does not determine TMA's commercial or pricing policies.Includes three months of TMA revenues whereas the comparative period, 1Q25, includes only one month.Consolidated Operating RevenuesMobile ServicesAs of March 31, 2026, Telecom's total accesses (excluding TMA) in Argentina and Paraguay reached 22.1 million, while TMA's subscribers amounted to 19.2 million. In 1Q26, consolidated mobile service revenues reached P$1,235,803 million (+P$413,403 million or +50.3% vs. 1Q25), being the main business in terms of service revenues (representing 54% and 48% of service revenues in 1Q26 and 1Q25, respectively). The increase in revenues is mainly the result of the consolidation of TMA's results in 1Q26, which amounted to P$539,745 million. Excluding the impact of TMA's consolidation on mobile service revenues, the 9.0% increase for Telecom (excluding TMA) was mainly driven by an 18.7% increase in real terms in the average monthly revenue per customer ("ARPU").Mobile Services in ArgentinaAs of March 31, 2026, Telecom's mobile accesses (excluding TMA) in Argentina amounted to approximately 19.4 million (-1.9 million or -8.9% vs. 1Q25). The decrease is mainly explained by: (a) in the prepaid base, a change implemented in 2025 in the measurement of the useful life of lines, which was reduced from 360 days to 242 days to consider their definitive disconnection since the last top-up date, resulting in a 12.2% decrease in the prepaid base; and (b) in postpaid customers, higher disconnections associated with changes in commercial strategies, with the postpaid base decreasing by 3.7%. As of March 31, 2026, 59% of customers corresponded to the prepaid modality and 41% were postpaid, whereas as of March 31, 2025, prepaid customers represented 61% and postpaid customers 39%.As of March 31, 2026, TMA's mobile accesses amounted to approximately 19.2 million (+340 thousand or +1.8% vs. 1Q25) - including machine-to-machine ("M2M") accesses. The postpaid base increased by 2.9% vs. 1Q25, while the prepaid base grew by 0.8%. As of March 31, 2026, postpaid accesses represent 49% of total mobile accesses. TMA's average monthly churn stood at 1.6% in 1Q26 (vs. an average of 2.0% in 1Q25).ARPU for Telecom (excluding TMA) amounted to P$10,766.4 in 1Q26 (+18.7% in real terms vs. 1Q25). The effect generated by the restatement to the current unit of measure as of March 31, 2026, included in ARPU amounts to P$351.6 and P$2,445.7 in 1Q26 and 1Q25, respectively. Average monthly churn stood at 2.4% in 1Q26 (vs. an average of 2.0% in 1Q25).ARPU for TMA amounted to P$9,122.8 in 1Q26 (-0.7% in real terms vs. 1Q25). The effect generated by the restatement to the current unit of measure as of March 31, 2026, included in ARPU amounts to P$281.0 and P$2,481.6 in 1Q26 and 1Q25, respectively.Mobile Services in Paraguay ("Núcleo")As of March 31, 2026, Núcleo's subscriber base totaled 2.7 million, representing a 3% increase compared to 1Q25. Of total accesses, 69% correspond to prepaid and 31% to postpaid, while as of March 31, 2025, prepaid accesses represented 73% and postpaid 27%. Average monthly churn stood at 2.5% in 1Q26 versus 2.1% in 1Q25.During 1Q26, mobile service revenues in Paraguay reached P$55,716 million, increasing in real terms (+P$10,420 million vs. 1Q25). The increase in mobile service revenues in Paraguay was driven by the real appreciation of the Guaraní against the Argentine peso of 36.6% over the last twelve months compared to cumulative inflation for the period of 32.6% in 1Q26 vs. 1Q25, whereas in 1Q25 the real appreciation of the Guaraní against the Argentine peso was 14.1% over the last twelve months compared to cumulative inflation for the period of 55.9%, as well as by a 0.7% increase in the customer base due to commercial efforts to capture new customers.Internet ServicesConsolidated Internet service revenues reached P$508,925 million in 1Q26, growing in real terms (+P$81,527 million or +19.1% vs. 1Q25). Telecom's subscriber base (excluding TMA) increased, reaching 4.2 million accesses (+135 thousand or +3.3% vs. 1Q25) during 1Q26. Telecom's average monthly Internet services churn stood at 1.3% and 1.2% as of March 31, 2026, and 2025, respectively.The increase in revenues is mainly the result of the consolidation of TMA's results in 1Q26, which amounted to P$126,646 million. Excluding the impact of TMA's consolidation, Telecom's revenues (excluding TMA) decreased slightly, recording -0.4% vs. 1Q25.TMA's subscriber base reached 1.6 million accesses (+75 thousand or +4.8% vs. 1Q25) during 1Q26. The average monthly Internet services churn stood at 2.1% as of March 31, 2026, and 2025, respectively.In 1Q26, Telecom's broadband ARPU (excluding TMA) (restated in constant currency as of March 31, 2026) reached P$28,389.6 (-5.0% in real terms vs. 1Q25). The effect generated by the restatement to the current unit of measure as of March 31, 2026, included in ARPU amounts to P$656.6 and P$8,071.3 for 1Q26 and 1Q25, respectively.Additionally, in 1Q26, TMA's broadband ARPU (restated in constant currency as of March 31, 2026) reached P$25,793.5 (-7.1% in real terms vs. 1Q25). The effect generated by the restatement to the current unit of measure as of March 31, 2026, included in ARPU amounts to P$791.4 and P$7,500.4 for 1Q26 and 1Q25, respectively.As of March 31, 2026, accesses with a service of 100 Mb or higher represented 98% of the total subscriber base (vs. 90% as of March 31, 2025).Cable TV ServicesConsolidated cable TV service revenues reached P$249,042 million in 1Q26 (+P$20,065 million or +8.8% vs. 1Q25). The number of TV accesses for Telecom (excluding TMA), including Uruguay and Paraguay, reached 3.5 million (+130 thousand or +3.9% vs. 1Q25). TV accesses for TMA totaled 0.4 million (-7 thousand or -1.8% vs. 1Q25).The positive variation in revenues in Argentina is mainly due to the consolidation of TMA's results in 1Q26, which amounted to P$27,038 million. Excluding the impact of TMA's consolidation, the 1.9% increase for Telecom (excluding TMA) was mainly driven by a 0.3% increase in ARPU and a 4.7% increase in the customer base vs. 1Q25.The subscriber base in Argentina for Telecom (excluding TMA) amounted to 3.3 million accesses as of March 31, 2026, representing a 4.7% increase compared to 1Q25. The increase in the customer base, mainly observed during February 2026, was driven by a commercial environment that favored higher levels of demand and service net adds in 1Q26. Of this customer base, 1.9 million are subscribed to Flow Flex.With the aim of continuing to develop a flexible, intuitive, and innovative service, Personal announced its first exclusive partnership in Argentina with Netflix. This strategic agreement incorporates the over-the-top platform as a new option within Flow+, its flexible entertainment offering with included subscriptions that can be swapped month to month. Maintaining the same fee, customers can choose two subscriptions from Pack Fútbol, HBO, Disney+ Premium, Universal+, and now Netflix Premium, and switch them every 30 days.Monthly TV ARPU for Telecom (excluding TMA) (restated in constant currency as of March 31, 2026) reached P$20,077.8 during 1Q26 (+0.3% in real terms vs. 1Q25). The effect generated by the restatement to the current unit of measure as of March 31, 2026 included in ARPU amounts to P$214.1 and P$4,856.9 for 1Q26 and 1Q25, respectively.Additionally, monthly TV ARPU for TMA (restated in constant currency as of March 31, 2026) reached P$22,689.3 during 1Q26 (-11.7% in real terms vs. 1Q25). The effect generated by the restatement to the current unit of measure as of March 31, 2026 included in ARPU amounts to P$688.1 and P$6,938.3 for 1Q26 and 1Q25, respectively.Average monthly cable TV churn for Telecom (excluding TMA) stood at 1.6% as of March 31, 2026 and 1.5% as of March 31, 2025, while for TMA it stood at 3.8% and 4.2% as of March 31, 2026 and 2025, respectively.Fixed Telephony and Data ServicesConsolidated revenues from fixed telephony and data services reached P$268,833 million in 1Q26 (+P$61,537 million or +29.7% vs. 1Q25).The variation in Argentina is mainly due to the consolidation of TMA's results in 1Q26, which amounted to P$127,241 million. Fixed-line voice and data revenues for Telecom (excluding TMA) decreased by 10.3%, mainly because the Company was not able to increase prices at the same pace as inflation, considering cumulative inflation over the last twelve months of 32.6%, partially offset by a 3.8% increase in the fixed-line customer base.The fixed-line customer base for Telecom (excluding TMA) reached 2.8 million customers in 1Q26, of which 2.4 million correspond to customers with IP lines. TMA's fixed-line customer base reached 2.1 million customers, of which 1.6 million are customers with IP lines.During 1Q26, the Pacheco Datacenter, one of the Company's most important technological hubs, obtained the international "Certified Energy Efficient Datacenter Award" (CEEDA), a recognition that validates efficient energy management and the sustainable operation of data centers under global standards.Other Service RevenuesConsolidated other service revenues reached P$12,636 million (-P$4,156 million or -24.7% vs. 1Q25). The decrease in other service revenues is mainly explained by the loss of control over Micro Sistemas, which provided Fintech services in Argentina in 1Q25 and, as of 1Q26, is recognized as an investment in a joint venture.Revenues from equipment salesConsolidated revenues from equipment sales totaled P$82,447 million (-P$20,793 million or -20.1% vs. 1Q25). The contribution from the consolidation of TMA's results in 1Q26 amounted to P$32,743 million, while equipment sales for Telecom (excluding TMA) decreased by 39.7% in real terms.Consolidated Operating CostsConsolidated Operating Costs, including Depreciation, Amortization and Impairment of Fixed Assets, amounted to P$2,061,928 million in 1Q26 (+P$404,209 million or +24.4% vs. 1Q25).Excluding Depreciation, Amortization and Impairment of Fixed Assets, consolidated operating costs amounted to P$1,538,195 million and increased by P$331,404 million or 27.5% vs. 1Q25. Operating costs in 1Q26 include P$621,220 million, corresponding to the consolidation of TMA.The cost breakdown was as follows:Labor costs and severance payments totaled P$509,473 million in 1Q26 (+P$129,094 million or +33.9% vs. 1Q25). The increase is mainly due to the consolidation of TMA's results in 1Q26, whose contribution amounted to P$181,261 million. Telecom's headcount (excluding TMA) totaled 18,103 employees as of March 31, 2026.Interconnection and transmission costs, which also include roaming, correspondence services, and line and circuit rentals, amounted to P$68,474 million in 1Q26 (+P$22,963 million or +50.5% vs. 1Q25). The increase is mainly due to the consolidation of TMA's results in 1Q26, whose contribution amounted to P$76,435 million.Fees for services, maintenance and materials: P$281,837 million in 1Q26 (+P$54,076 million or +23.7% vs. 1Q25). The increase is mainly due to the consolidation of TMA's results in 1Q26, whose contribution amounted to P$117,838 million. Excluding the impact of TMA's consolidation, the decrease is mainly explained by the implementation of the efficiency and resource management plan aimed at improving and automating processes, and by a 4% improvement in the average cost of service fees compared to 1Q25.Taxes, fees and regulatory charges totaled P$208,938 million (+P$57,884 million or +38.3% vs. 1Q25). Taxes, fees and regulatory authority charges in 1Q26 include P$84,691 million corresponding to TMA.Commissions and advertising (agents, collection commissions and other commissions) totaled P$107,647 million in 1Q26 (+P$13,114 million or +13.9% vs. 1Q25). The increase is mainly due to the consolidation of TMA's results in 1Q26, whose contribution amounted to P$41,208 million.Cost of equipment sold totaled P$72,328 million in 1Q26 (-P$3,678 million or -4.8% vs. 1Q25). This variation is mainly due to a decrease in the number of units sold compared to 1Q25. The contribution from TMA's results in 1Q26 amounted to P$30,078 million.Programming and content costs amounted to P$134,847 million (+P$34,201 million or +34.0% vs. 1Q25). Programming and content costs in 1Q26 include P$41,867 million corresponding to TMA.Other costs totaled P$154,651 million (+P$23,750 million or +18.1% vs. 1Q25), among which doubtful accounts amounted to P$47,247 million (+P$13,233 million or +38.9% vs. 1Q25):Bad debt expenses in 1Q26 include P$18,150 million related to TMA. The charge for bad debt represented 2.0% of total revenues as of March 31, 2026 (vs. 1.9% in 1Q25).Other operating costs, which include charges for lawsuits and other contingencies, energy and other utilities, insurance, leases and internet capacity, among others, amounted to P$107,404 million (+P$10,517 million or +10.9% vs. 1Q25). TMA's contribution in 1Q26 amounted to P$29,692 million.Depreciation, amortization and impairment of fixed assets totaled P$523,733 million (+P$72,805 million or +16.1% vs. 1Q25). The charge for the period includes P$200,120 million corresponding to the consolidation of TMA, as well as the impact of amortization of additions made after March 31, 2025, partially offset by the effect of assets that completed their useful lives after that same date.Net Financial ResultsNet financial results (including financial debt costs and other net financial results) recorded a gain of P$630,864 million in 1Q26 (vs. a gain of P$133,876 million in 1Q25). Additionally, the effect derived from the consolidation of TMA amounted to P$13,701 million, resulting from the comparison of results for the full 1Q26 against the results of 1Q25 from TMA's acquisition date onward:In millions of $ 1Q26 1Q25 ?$ Exchange differences 719,028 188,864 530,164 RECPAM 85,413 46,978 38,435 Fair value gains/(losses) on financial assets at fair value through profit or loss 9,930 (10,886) 20,816 Remeasurement in borrowings* 649 7,883 (7,234)Net interest (134,907) (77,616) (57,291)Others (49,249) (21,347) (27,902)Total 630,864 133,876 496,988 *Related to Notes issued in UVA (Unidades de Valor Adquisitivo)The variation recorded in net financial results is mainly explained by higher foreign exchange gains, measured in real terms, of P$530,164 million, resulting from inflation of 32.6% compared to an appreciation of the U.S. dollar against the Argentine peso of 28.7% (compared to inflation of 55.9% versus an appreciation of the U.S. dollar against the Argentine peso of 25.2% in 1Q25). It should be noted that, in 1Q26, a depreciation of the U.S. dollar against the Argentine peso of 5% occurred, whereas in 1Q25 there was an appreciation of the U.S. dollar against the Argentine peso of 4.1%.Likewise, the increase in foreign exchange results was partially due to a higher level of U.S. dollar-denominated indebtedness in 2026, which resulted in greater exposure to fluctuations of the Argentine peso against the U.S. dollar. Additionally, there was a higher positive RECPAM of P$38,435 million and higher gains from changes in the fair value of financial assets of P$20,816 million, resulting from exposure to inflation of 32.6% on the quoted value of financial assets measured at fair value (compared to inflation of 55.9% in 1Q25), partially offset by higher loan interest expense of P$63,512 million and higher losses from financial discounts on assets, liabilities and others of P$21,849 million, and lower gains from the inflation adjustment of loans of P$7,234 million, due to the fact that the UVA adjustment exceeded inflation, generating negative results in real terms.Income TaxTelecom's income tax includes the following effects:the current income tax, determined based on the tax legislation currently applicable to Telecom;the effect of applying the deferred tax method with respect to temporary differences determined by comparing our asset and liability valuations according to tax and financial accounting criteria, which includes the effect of the income tax inflation adjustment.Income tax resulted in a loss of P$320,657 million in 1Q26 (compared to a loss of P$158,789 million in 1Q25). Losses related to current income tax amounted to P$335,982 million in 1Q26 (compared to a loss of P$316,821 million in 1Q25), and the income tax charge related to the application of the deferred tax method in 1Q26 was a gain of P$15,325 million (compared to a gain of P$158,032 million in 1Q25).Additionally, the effect derived from the consolidation of TMA amounted to P$28,304 million, resulting from comparing the results for the full 1Q26 against the results of 1Q25 from the date of TMA's acquisition.Consolidated Net Financial DebtAs of March 31, 2026, our net financial debt (cash, cash equivalents - net of client funds - plus financial investments and derivatives* minus loans) was a net liability and totaled P$4,296,790 million, representing a decrease of P$792,365 million compared to Net Financial Debt as of December 31, 2025, adjusted for inflation.* Contemplates rate swaps and NDF (non-delivery forwards) agreements.Investments in PP&E, intangible assets and rights of use assetsAs of March 31, 2026, consolidated CAPEX (including additions to PP&E and intangible assets) totaled P$433,768 million (+85.1% vs. 1Q25). CAPEX for Telecom (excluding TMA) totaled P$292,725 million (+60.9% vs. 1Q25). Including additions from right-of-use, investments amounted to P$513,992 million, including P$120,577 million related to TMA.The investments were focused on:Expansion of both fixed and mobile data services to improve transmission and access speed offered to customers, the deployment of 4G coverage and capacity, and continued expansion of 5G to support mobile internet growth and enhance service quality.Deployment and modernization of 4G mobile access sites to improve coverage and increase mobile network capacity. The 4G/LTE rollout reached 98% population coverage. Our mobile network customers with access to our network experienced improved service quality, reaching average speeds of 84 Mbps.During 1Q26, we continued expanding our 5G network with the addition of 126 sites.With regard to the fixed access infrastructure, during the first quarter of 2026 we continued to strengthen our broadband capabilities through the deployment of new fiber optic networks and the modernization of existing infrastructure. FTTH (Fiber to the Home) accesses currently represent 33% of Personal's broadband base, with nearly 1.4 million accesses, supported by the acceleration of fiber deployment.Relevant financial events of the periodSecondary Offering of American Depositary Shares ("ADSs")On February 10, 2026, Fintech Telecom LLC, in its capacity as selling shareholder, completed a secondary offering of 4,050,549 ADSs, representing 20,252,745 Class B shares of the Company. In connection with the offering, Fintech Telecom LLC granted the underwriters a 30-day option to purchase up to an additional 607,582 ADSs, representing 3,037,910 Class B shares of the Company, which option was exercised in full. In aggregate, the transaction included 23,290,655 Class B shares (representing 1.08% of the total share capital of Telecom Argentina) and consequently reduced Fintech Telecom LLC's ownership interest in Telecom Argentina in the form of ADSs.Relevant events after March 31, 2026Ordinary and Extraordinary General Shareholders' MeetingThe Ordinary and Extraordinary General Shareholders' Meeting of Telecom held on April 29, 2026, resolved, among other matters, the following:The proposal of the Board of Directors, restated as of March 31, 2026, using the National Consumer Price Index (National CPI) published on April 14, 2026, in accordance with CNV Resolution No. 777/2018, was approved with respect to Retained Earnings as of December 31, 2025, which show a negative balance of P$135,642,104,918, consisting of:To absorb the amount of P$135,642,104,918 from the "Optional reserve to maintain the level of investments in capital goods and the Company's current solvency level";With respect to the amount of P$126,397,129,903 to be reclassified from the account "Optional reserve to maintain the level of investments in capital goods and the Company's current solvency level" (which will consequently reach an amount of P$1,418,921,263,469) and to be allocated against the "Merger Premium" account, which, following such allocation, will consequently reach a balance of P$3,456,505,446,359; andLikewise, it was approved to delegate powers to the Board of Directors of the Company to fully or partially release, prior to December 31, 2026, the "Optional reserve to maintain the level of investments in capital goods and the Company's current solvency level" and to distribute, on one or more occasions, dividends in cash or in kind or in any combination of both options, for an aggregate amount of up to US$300,000,000.Likewise, the corporate reorganization was approved, pursuant to which Telecom Argentina, as the surviving company, absorbs Teledifusora San Miguel Arcangel S.A. through a merger, with effect as of January 1, 2026.TMA Regulatory Process - Extension of DeadlineOn April 30, the Company was notified of Resolution TDC 14/2026 (DISFC-2026-14-APN-TDC#ANC) issued by the National Competition Defense Tribunal (Tribunal de Defensa de la Competencia), pursuant to which it was resolved to extend by an additional 30 days the original 45-day term established in Section 14 of Law No. 27,442, in the proceedings conducted under file EX-2025-22498026-APN-DR#CNDC, entitled: "TELECOM ARGENTINA S.A. / NOTICE UNDER SECTION 9 OF LAW No. 27,442" (Conc. 2025).Likewise, Resolution TDC 14/2026 clarifies that the granted extension will become effective once the 45-day term established in Section 14 of Law No. 27,442 expires, the calculation of which began on February 24, 2026, without prejudice to the possibility of granting additional extensions, if necessary, up to completing the maximum term provided for in said section.*******Telecom Argentina is a leading telecommunications company in Argentina, offering services combining mobile telephony services, cable television services, internet services and fixed telephony services. We also provide Fintech Services, other telephone related services, such as international long-distance and wholesale services, data transmission and IT solutions outsourcing and we install, operate and develop cable television and data transmission services. We provide our services in Argentina (mobile, cable television, internet, fixed and data, fintech services, among others), Paraguay (mobile, internet, satellite TV, fintech services, among others), Uruguay (cable television services, internet and cybersecurity services and products), the United States (fixed wholesale services) and Chile (cybersecurity services and products). These consolidate an ecosystem of platforms and new businesses, providing a comprehensive and convergent experience for our customers.As of March 31, 2026, Telecom Argentina owns 2,153,688,011 issued and outstanding shares.For more information, please contact Investor Relations:Luis Fernando Rial Ubagolfrialubago@personal.com.arTomás Pellicoritlpellicori@personal.com.arLucas Gaetalgaeta@personal.com.arFor information about Telecom Argentina's services, visit:www.personal.com.arwww.personal.com.pyDisclaimerThis document may contain statements that could constitute forward-looking statements, including, but not limited to (i) the Company's expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; (ii) the continued synergies expected from the merger between the Company and Cablevisión S.A. (or the "Merger") and/or the acquisition or Telefónica Móviles Argentina S.A. (or the "Acquisition"); (iii) the implementation of the Company's business strategy; (iv) the changing dynamics and growth in the telecommunications and cable markets in Argentina, Paraguay, Uruguay and the United States; (v) the Company's outlook for new and enhanced technologies; (vi) the effects of operating in a competitive environment; (vii) the industry conditions; (viii) the outcome of certain legal proceedings; and (ix) regulatory and legal developments. Forward-looking statements may be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "will," "may" and "should" or other similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by forward-looking statements. These factors include, among others: (i) the Company's ability to successfully implement our business strategy and to achieve synergies resulting from the Merger and/or the Acquisition; (ii) the Company's ability to introduce new products and services that enable business growth; (iii) uncertainties relating to political and economic conditions in Argentina, Paraguay, Uruguay and the United States, including the policies of the new government in Argentina; (iv) the impact of political developments, including the policies of the new government in Argentina, on the demand for securities of Argentine companies; (v) inflation, the devaluation of the peso, the Guaraní and the Uruguayan peso and exchange rate risks in Argentina, Paraguay and Uruguay; (vi) restrictions on the ability to exchange Argentine or Uruguayan pesos or Paraguayan guaraníes into foreign currencies and transfer funds abroad; (vii) the impact of currency and exchange measures or restrictions on our ability to access the international markets and our ability to repay our dollar-denominated indebtedness; (viii) the creditworthiness of our actual or potential customers; (ix) the nationalization, expropriation and/or increased government intervention in companies; (x) technological changes; (xi) the impact of legal or regulatory matters, changes in the interpretation of current or future regulations or reform and changes in the legal or regulatory environment in which the Company operates, including regulatory developments such as sanctions regimes in other jurisdictions (e.g., the United States) which impact on the Company's suppliers; (xii) the effects of increased competition; (xiii) reliance on content produced by third parties; (xiv) increasing cost of the Company's supplies; (xv) inability to finance on reasonable terms capital expenditures required to remain competitive; (xvi) fluctuations, whether seasonal or in response to adverse macro-economic developments, in the demand for advertising; (xvii) the Company's ability to compete and develop our business in the future; (xviii) the impact of increased national or international restrictions on the transfer or use of telecommunications technology; and (xix) the impact of the outbreak of COVID-19 on the global economy and specifically on the economies of the countries in which we operate, as well as on our operations and financial performance. Many of these factors are macroeconomic and regulatory in nature and therefore beyond the control of the Company's management. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, planned or projected. The Company does not intend and does not assume any obligation to update the forward-looking statements contained in this document.These forward-looking statements are based upon a number of assumptions and other important factors that could cause our actual results, performance or achievements to differ materially from our future results, performance or achievements expressed or implied by such forward-looking statements. Readers are encouraged to consult the Company's Annual Report on Form 20-F and the periodic filings made on Form 6-K, which are periodically filed with or furnished to the United States Securities and Exchange Commission, as well as the presentations periodically filed before the Argentine Securities and Exchange Commission (Comisión Nacional de Valores) and the Buenos Aires Stock Exchange (Bolsas y Mercados Argentinos), for further information concerning risks and uncertainties faced by the Company.*******SOURCE: Telecom Argentina S.A.View the original press release on ACCESS NewswireOriginal: Telecom Argentina S.A. Announces Consolidated Results for the First Quarter of Fiscal Year 2026 ("1Q26")(2)

Telecom Argentina S.A. Announces Consolidated Annual Results ("FY25") and Fourth Quarter of Fiscal Year 2025 ("4Q25")(2)March 10, 2026 4:07 PM
ACCESS NewswireMarket Cap (NYSE: TEO): US$ 4,789.8 million1Note: FY25 figures include the effects of the adoption of inflationary accounting in accordance with IAS 29. Therefore, comments regarding FY25 results and changes in FY24 results mentioned in this press release correspond to "restated for inflation" or "constant" figures. The comments corresponding to the consolidated results for FY25 include the results of Telefónica Móviles Argentina ("TMA") for the ten-month period from March 1 to December 31, 2025, unless otherwise specified. For analysis purposes, it is important to highlight that the comparative results (December 2024) reflect the year-over-year effect of inflation through December 2025, which reached 31.5%. Additionally, the consolidated results for FY25 include ten months of TMA's results, which were not present in the comparative period (FY24).During FY25, consolidated revenues reached P$8,328,814 million. Service revenues totaled P$7,902,043 million in FY25, with the following performance:Telecom (excluding TMA)3: +4.2% vs. FY24 (vs. -6.4% in real terms in FY24 vs. FY23).TMA: +3.8% vs. FY24. Telecom does not set TMA's commercial or pricing policies.Consolidated: +54.7% vs. FY24, including ten months of TMA revenues not reflected in the comparative consolidated period (FY24).During FY25, the customer base in Argentina showed positive evolution:Telecom (excluding TMA): Total mobile accesses decreased 7.8%, totaling 19.9 million. This reduction is largely explained by disconnections of prepaid lines with no recorded traffic, with no effect on mobile service revenues. In turn, the fixed segment recorded increases in the number of accesses: TV accesses totaled 3.3 million in the same period (+46 thousand or +1.4% vs. FY24), while fixed broadband accesses increased 3.2%, totaling 4.2 million accesses (+130 thousand vs. FY24).TMA: Total mobile accesses (including M2M) totaled 19.1 million (+308 thousand or +1.6% vs. FY24). Fixed broadband reached 1.6 million accesses (+89 thousand or +5.8% vs. FY24). In turn, TV subscribers totaled 0.4 million in the same period (-33 thousand or -7.9% vs. FY24).During FY25, consolidated Operating Income Before Depreciation, Amortization and Impairment of Fixed Assets ("Operating Income before D, A & I") margin was 30.3% (+2.1 p.p. vs. FY24). Telecom (excluding TMA) margin improved, reaching 33.7% in FY25 (+5.5 p.p. vs. FY24) and 34.1% in 4Q25 (+7.9 p.p. vs. 4Q24). Operating income before D, A & I totaled P$2,525,535 million (+64.8% vs. FY24, including 10 months of TMA).During FY25, a consolidated net loss of P$145,304 million was recorded (vs. a net income of P$1,359,230 million in FY24). This was mainly due to a higher loss from exchange rate differences recorded in financial results, measured in real terms, as a result of lower inflation (31.5%) vs. a depreciation of the Argentine peso against the US dollar of 41.0% (vs. inflation of 117.8% and peso depreciation of 27.7% in FY24).Consolidated CAPEX (excluding right-of-use assets) totaled P$1,485,577 million (+98.3% vs. FY24) and represented 17.8% of consolidated revenues (increasing vs. FY24, when it reached 13.8% of revenues).Consolidated Net Financial Debt totaled P$4,650,085 million as of December 31, 2025, increasing in real terms (+40.2% in constant currency vs. December 31, 2024), mainly due to financing obtained for the acquisition of TMA. Relative leverage improved, as net financial debt increased at a lower rate than Operating Income before D, A & I.Market capitalization as of March 9, 2026Unaudited non-financial informationThis refers to the exclusion of the consolidated results from the segment "ICT Services Provided in Argentina - TMA Networks," as presented in Table 3. The same criteria will apply going forward to any results labeled as "Telecom (excluding TMA)."BUENOS AIRES, ARGENTINA / ACCESS Newswire / March 10, 2026 / Telecom Argentina S.A. ("Telecom Argentina", "Telecom" or the "Company") (NYSE:TEO)(BYMA:TECO2) announced today a consolidated Net Loss of P$145,304 million for the fiscal year ended December 31, 2025. The consolidated Net Loss attributable to the Controlling Company amounted to P$170,006 million.(in million P$ adjusted by inflation, except where noted)* IAS 29 IAS 29 As of December 31, As of December 31, ?$ ?% 2025 2024 Consolidated Revenues 8,328,814 5,442,958 2,885,856 53.0%Consolidated Operating Income before D, A & I 2,525,535 1,532,381 993,154 64.8%Consolidated Operating Income (loss) 450,047 (192,676) 642,723 - Consolidated Net Income (loss) before income tax expense (191,736) 1,897,467 (2,089,203) -110.1%Consolidated Net Income (loss) attributable to Controlling Company (170,006) 1,331,805 (1,501,811) -112.8%Consolidated Shareholders' equity attributable to Controlling Company 6,863,861 7,136,514 (272,653) -3.8%Consolidated Net Financial Debt (4,650,085) (3,316,649) (1,333,436) 40.2%Consolidated Investments in PP&E, intangible assets & rights of use assets ** 1,681,289 1,061,137 620,152 58.4% Telecom Fixed lines in service (in thousand lines) *** 2,747 2,666 80 3.0%Mobile customers (in thousand) 22,577 24,185 (1,607) -6.6%Personal (Argentina) 19,930 21,625 (1,695) -7.8%Núcleo (Paraguay) -including Wimax customers- 2,647 2,559 88 3.4%Broadband accesses in Argentina (in thousand) 4,160 4,030 130 3.2%Pay TV Subscribers (Includes Argentina, Uruguay and Paraguay - in thousand) 3,464 3,432 32 0.9% Average Revenue per user (ARPU) Mobile Services (in P$ - Restated by inflation) 9,081.9 7,840.3 1,241.6 15.8%Average Revenue per user (ARPU) Broadband (in P$ - Restated by inflation) 27,062.6 26,860.4 202.2 0.8%Average Revenue per user (ARPU) Pay TV (in P$ - Restated by inflation) 18,643.2 18,143.6 499.6 2.8% Telefónica Móviles Argentina (TMA) Fixed lines in service (in thousand lines) *** 2,100 2,141 (41) -1.9%Mobile customers (in thousand) 19,129 18,821 308 1.6%Prepaid + Postpaid (excluding M2M) 16,268 16,110 158 1.0%Machine-to-machine (M2M) 2,861 2,711 150 5.5%Broadband accesses (in thousand) 1,632 1,543 89 5.8%Pay TV Subscribers (in thousand) 391 425 (33) -7.9% Average Revenue per user (ARPU) Mobile Services (in P$ - Restated by inflation)**** 8,293.7 8,186.9 106.8 1.3%Average Revenue per user (ARPU) Broadband (in P$ - Restated by inflation)**** 24,608.2 24,022.7 585.5 2.4%Average Revenue per user (ARPU) Pay TV (in P$ - Restated by inflation)**** 23,840.6 21,417.6 2,423.0 11.3%* Figures may not add up due to rounding.
** In constant currency - includes additions from rights of use as of December 31, 2025 for P$195,712 million and as of December 31, 2024 for P$312,163 million.
*** Telecom figures include IP telephony lines, which totaled approximately 2.26 million and 1.86 million as of December 31, 2025 and December 31, 2024, respectively. TMA figures include IP telephony lines, which totaled approximately 1.57 million and 1.43 million as of December 31, 2025 and December 31, 2024, respectively.
****ARPUs in constant currency as of December 31, 2025, were calculated by applying the corresponding average inflation index to the historical ARPU of each segment.Comparative figures for the previous fiscal year have been restated for inflation so that the resulting information is presented in terms of the current measurement unit as of December 31, 2025.The following table shows the evolution of the national consumer price index (National CPI - according to INDEC's official statistics) as of December 31, 2023, 2024, and 2025: As of December 31,2023 As of December 31,2024 As of December 31,2025 Annual 211.4% 117.8% 31.5%During FY25, consolidated revenues reached P$8,328,814 million, of which P$7,902,043 million corresponded to Service Revenues. Notably, during this period, Service Revenues showed a positive evolution relative to inflation, as detailed below. Consolidated Telecom Consolidated(Excluding TMA) TMA1 FY25 vs. FY24 +54.72 +4.2% +3.8%4Q25 vs. 4Q24 +66.23 +6.1% -0.2%Telecom does not determine TMA's commercial or pricing policies.Includes ten months of TMA revenues not reflected in the comparative consolidated period (FY24).Includes three months of TMA revenues not reflected in the comparative consolidated period (4Q24).Consolidated RevenuesMobile ServicesAs of December 31, 2025, total subscribers for Telecom (excluding TMA) in Argentina and Paraguay reached 22.6 million, while TMA subscribers totaled 19.1 million. In FY25, consolidated mobile service revenues totaled P$4,092,162 million (+P$1,883,018 million or +85.2% vs. FY24), representing the main business in terms of service revenues (accounting for 52% and 43% of service revenues in FY25 and FY24, respectively). Mobile internet revenues accounted for 98% of total revenues from these services in both FY25 and FY24. The revenue increase was mainly driven by the consolidation of TMA's results in FY25, which totaled P$1,625,205 million. Excluding the impact of the consolidation of TMA's results on mobile service revenues, the 11.7% increase for Telecom (excluding TMA) was mainly due to an increase in ARPU of 15.8% in real terms.Mobile Services in ArgentinaAs of December 31, 2025, Telecom's mobile subscribers (excluding TMA) in Argentina totaled approximately 19.9 million (-1.7 million or -7.8% vs. FY24). Most of the decline is mainly explained by disconnections of lines with no recorded traffic in the prepaid segment, with no effect on mobile service revenues. As of December 31, 2025, 60% of customers were prepaid and 40% postpaid, compared to 62% prepaid and 38% postpaid as of December 31, 2024.As of December 31, 2025, TMA's mobile subscribers totaled approximately 19.1 million (+308 thousand or +1.6% vs. FY24),including M2M accesses. The postpaid base increased 2.2% vs. FY24, while the prepaid base grew 1.1%. As of December 31, 2025, postpaid accesses represent 51% of total mobile accesses. TMA's average monthly churn was 1.9% in FY25 (vs. 2.0% average in FY24).ARPU for Telecom (excluding TMA) was P$9,081.9 in FY25 (+15.8% in real terms vs. FY24). The effect generated by restatement to the measuring unit current as of December 31, 2025 included in ARPU totaled P$1,016.1 and P$2,906.3 in FY25 and FY24, respectively. Average monthly churn was 2.1% in FY25 (vs. 1.4% average in FY24).ARPU for TMA was P$8,293.7 in FY25 (+1.3% in real terms vs. FY24). The effect generated by restatement to the measuring unit current as of December 31, 2025 included in ARPU totaled P$987.7 and P$3,233.0 in FY25 and FY24, respectively.During the fourth quarter of the year, Personal was recognized by Ookla for having the fastest 5G network in the country, strengthening its leadership in service quality.Personal in Paraguay ("Núcleo")As of December 31, 2025, Núcleo's subscriber base totaled 2.6 million, representing a 3% increase compared to FY24. Of total accesses, 70% correspond to prepaid and 30% to postpaid, while as of December 31, 2024, prepaid accesses represented 73% and postpaid 27%. Average monthly churn stood at 2.6% in FY25 versus 2.7% in FY24.During FY25, revenues from mobile services in Paraguay reached P$186,667 million, decreasing in real terms (-P$3,684 million vs. FY24). This decline was mainly driven by a reduction in ARPU, primarily as a result of lower top-up levels among prepaid customers.Internet ServicesConsolidated Internet service revenues reached P$1,808,527 million in FY25, growing in real terms (+P$418,036 million or +30.1% vs. FY24). Telecom's subscriber base (excluding TMA) increased to 4.2 million subscribers (+130 thousand or +3.2% vs. FY24) during FY25. The monthly churn for Internet services stood at 1.2% and 1.5% as of December 31, 2025 and 2024, respectively.The increase in revenues was mainly driven by the consolidation of TMA's results in FY25, which reached P$386,450 million. Excluding the impact of TMA's consolidation, the 2.3% increase for Telecom (excluding TMA) was mainly driven by higher ARPU and growth in the customer base.TMA's subscriber base reached 1.6 million subscribers (+89 thousand or +5.8% vs. FY24) during FY25. Monthly churn for Internet services stood at 1.9% as of both December 31, 2025 and 2024.In FY25, Telecom's broadband ARPU (excluding TMA) (restated in constant currency as of December 31, 2025) reached P$27,062.6 (+0.8% in real terms vs. FY24). The effect generated by restatement in terms of the current measuring unit as of December 31, 2025 included in ARPU amounted to P$2,929.7 and P$9,934.2 for FY25 and FY24, respectively.Additionally, in FY25, TMA's broadband ARPU (restated in constant currency as of December 31, 2025) reached P$24,608.2 (+2.4% in real terms vs. FY24). The effect generated by restatement in terms of the current measuring unit as of December 31, 2025 included in ARPU amounted to P$2,930.6 and P$9,486.5 for FY25 and FY24, respectively.During the fourth quarter of the year, Personal was recognized by Ookla as having the best fixed network in the country, reaffirming its leadership position in connectivity. As of December 31, 2025, accesses with services of 100 Mbps or higher represented 98% of the total subscriber base (vs. 89% as of December 31, 2024).Cable TV ServicesConsolidated revenues from cable television services reached P$915,046 million in FY25 (+P$125,577 million or +15.9% vs. FY24). The number of TV subscribers for Telecom (excluding TMA), including Uruguay and Paraguay, reached 3.5 million (+32 thousand or +0.9% vs. FY24). TV subscribers for TMA totaled 0.4 million (-33 thousand or -7.9% vs. FY24).The positive variation in revenues in Argentina was mainly driven by the consolidation of TMA's results in FY25, which reached P$96,327 million. Excluding the impact of TMA's consolidation, the 3.7% increase for Telecom (excluding TMA) was mainly driven by a 2.8% increase in ARPU and a 1.4% increase in the customer base compared to FY24.Telecom's subscriber base in Argentina (excluding TMA) totaled 3.3 million accesses as of December 31, 2025, representing a 1.4% increase compared to FY24, leveraged by Flow Full and Flow Flex products, the latter being fully digital (no decoder or installation required). Of this customer base, 1.8 million subscribers are subscribed to Flow Flex.During 2025, Flow reaffirmed its positioning in the entertainment segment, adding services that enhance the customer experience, such as the launch of Flow+ (a flexible entertainment experience that includes two subscriptions selected from Pack Fútbol, HBO, Disney+ Premium and Universal+, interchangeable every 30 days, all within a single subscription).Monthly TV ARPU for Telecom (excluding TMA) (restated in constant currency as of December 31, 2025) reached P$18,643.2 in FY25 (+2.8% in real terms vs. FY24). The effect generated by restatement in terms of the current measuring unit as of December 31, 2025, included in ARPU amounted to P$1,704.9 and P$6,456.3 for FY25 and FY24, respectively.Meanwhile, monthly TV ARPU for TMA (restated in constant currency as of December 31, 2025) reached P$23,840.6 in FY25 (+11.3% in real terms vs. FY24). The effect generated by restatement in terms of the current measuring unit as of December 31, 2025, included in ARPU amounted to P$2,839.2 and P$8,457.7 for FY25 and FY24, respectively.Monthly cable TV churn for Telecom (excluding TMA) stood at 1.5% and 1.8% as of December 31, 2025 and 2024, respectively, while for TMA it stood at 3.9% and 3.7% as of December 31, 2025 and 2024, respectively.Fixed Telephony and Data ServicesConsolidated revenues from fixed telephony and data services reached P$1,011,528 million in FY25 (+P$352,198 million or +53.4% vs. FY24).The variation in Argentina was mainly driven by the consolidation of TMA's results in FY25, which reached P$430,003 million. Revenues of fixed telephony and data services for Telecom (excluding TMA) decreased 11.8%, mainly because the Company was unable to increase prices at the same pace as inflation, considering accumulated inflation of 31.5% over the last twelve months, while the customer base remained stable.The fixed-line telephony customer base for Telecom (excluding TMA) reached 2.7 million in FY25, of which 2.3 million corresponded to customers with IP lines. The telephony customer base for TMA reached 2.1 million, of which 1.6 million corresponded to customers with IP lines.Other Service RevenuesConsolidated revenues from other service, which mainly include revenues related to fintech services, billing and collection management services rendered on behalf of third parties, administrative revenues, and revenues from the sale of advertising space, among others, reached P$74,780 million (+P$13,782 million or +22.6% vs. FY24).This variation was mainly driven by the growth of Fintech services in Argentina, primarily due to increased usage of the Personal Pay digital wallet and the expansion of its user base, which reached 4.7 million in FY25 versus 3.6 million in FY24.Revenues from equipment salesConsolidated revenues from equipment sales totaled P$426,771 million (+P$93,245 million or +28.0% vs. FY24). This variation was mainly driven by the consolidation of TMA's results in FY25, which reached P$168,463 million, while equipment sales for Telecom (excluding TMA) decreased 22.6% in real terms.Consolidated Operating CostsConsolidated Operating Costs including Depreciation, Amortization and Impairment of Fixed Assets amounted to P$7,878,767 million in FY25 (+P$2,243,133 million or +39.8% vs. FY24).Excluding Depreciation, Amortization and Impairment of Fixed Assets, consolidated operating costs amounted to P$5,803,279 million and increased by P$1,892,702 million or +48.4% in real terms vs. FY24. Operating costs for FY25 include P$2,104,182 million corresponding to the consolidation of TMA. During FY25, Telecom's operating costs (excluding TMA) decreased 5.4% in real terms.The cost breakdown was as follows:Labor costs and severance payments totaled P$1,961,097 million in FY25 (+P$614,360 million or +45.6% vs. FY24). The increase was mainly due to the consolidation of TMA's results in FY25, whose contribution amounted to P$685,616 million. Telecom's headcount (excluding TMA) totaled 18,690 employees as of December 31, 2025.Interconnection and transmission costs, which also include roaming, correspondence services, and line and circuit rentals, amounted to P$243,797 million in FY25 (+P$87,879 million or +56.4% vs. FY24). The increase was mainly due to the consolidation of TMA's results in FY25, whose contribution amounted to P$206,096 million.Fees for services, maintenance and materials totaled P$1,064,393 million in FY25 (+P$340,273 million or +47.0% vs. FY24). The increase was mainly due to the consolidation of TMA's results in FY25, whose contribution amounted to P$360,546 million. Excluding the impact of TMA's consolidation, the decrease was mainly explained by higher efficiencies, with reductions in maintenance and materials costs and professional fees compared to FY24.Taxes, fees and regulatory charges totaled P$720,488 million (+P$292,136 million or +68.2% vs. FY24). FY25 taxes, fees and regulatory charges include P$259,255 million related to TMA.Commissions and advertising (agents, collection commissions and other commissions) totaled P$437,205 million in FY25 (+P$131,714 million or +43.1% vs. FY24). The increase was mainly due to the consolidation of TMA's results in FY25, whose contribution amounted to P$150,748 million.Cost of equipment sold totaled P$288,668 million in FY25 (+P$29,452 million or +11.4% vs. FY24). This variation was mainly due to the consolidation of TMA's results in FY25, whose contribution amounted to P$93,450 million.Programming and content costs totaled P$450,698 million (+P$136,275 million or +43.3% vs. FY24). FY25 programming and content costs include P$111,810 million related to TMA.Other costs totaled P$636,933 million (+P$260,613 million or +69.3% vs. FY24), including bad debt totaling P$143,722 million (+P$31,620 million or +28.2% vs. FY24).Bad debt expenses in FY25 include P$57,820 million related to TMA. The charge for bad debt continued to show a favorable trend, representing 1.7% of total revenues as of December 31, 2025 (vs. 2.1% in FY24).Other operating costs, which include charges for lawsuits and other contingencies, energy and other utilities, insurance, leases and internet capacity, among others, amounted to P$493,211 million (+P$228,993 million or +86.7% vs. FY24). TMA's contribution in FY25 amounted to P$178,842 million.Depreciation, amortization and impairment of fixed assets totaled P$2,075,488 million (+P$350,431 million or +20.3% vs. FY24). The charge for the period includes P$579,565 million related to the consolidation of TMA, as well as the impact of amortization of additions made after December 31, 2024, partially offset by the effect of assets that completed their useful lives after that same date.Net Financial ResultsNet financial results (including financial debt costs and other net financial results) showed a consolidated loss of P$638,041 million in FY25 (vs. a gain of P$2,105,237 million in FY24). The consolidation of TMA's results contributed a loss of P$35,461 million in FY25. This variation was mainly driven by:In millions of $ FY25 FY24 ? $ Exchange differences (327,336) 2,467,139 (2,794,475)Net interest (449,525) (141,873) (307,652)RECPAM 183,617 170,007 13,610 Fair value gains/(losses) on financial assets at fair value through profit or loss 88,469 (59,723) 148,192 Remeasurement in borrowings* 4,477 (135,137) 139,614 Others (137,743) (195,176) 57,433 Total (638,041) 2,105,237 (2,743,278)*Related to Notes issued in UVAThe variation recorded in consolidated net financial results in FY25 was mainly explained by higher foreign exchange losses, measured in real terms, of P$2,794,475 million, resulting from inflation of 31.5% versus a 41.0% depreciation of the Argentine peso against the U.S. dollar (vs. inflation of 117.8% and a 27.7% depreciation of the Argentine peso against the U.S. dollar in FY24), higher loan interest expense of P$307,652 million, and higher losses from other items of P$24,320 million. These effects were partially offset by higher gains from changes in the fair value of financial assets of P$148,192 million, resulting from exposure to inflation of 31.5% on the market value of securities (compared to inflation of 117.8% in FY24), and higher gains from loan indexation of P$139,614 million, as the UVA adjustment was below inflation, generating positive results in real terms.Income TaxTelecom's income tax includes the following effects:the current income tax, determined based on the tax legislation currently applicable to Telecom,the effect of applying the deferred tax method with respect to temporary differences determined by comparing our asset and liability valuations according to tax and financial accounting criteria, which includes the effect of the income tax inflation adjustment.Income tax showed a gain of P$46,432 million in FY25 (vs. a loss of P$538,237 million in FY24). Losses related to current income tax amounted to P$196,068 million in FY25 (vs. a loss of P$14,344 million in FY24), and the income tax charge related to the application of the deferred tax method in FY25 was a gain of P$242,500 million (vs. a loss of P$523,893 million in FY24).Income tax for FY25 includes a loss of P$39,163 million corresponding to the consolidation of TMA's results.Consolidated Net Financial DebtAs of December 31, 2025, our net financial debt (cash, cash equivalents - net of Client Funds - plus financial investments and financial NDF* minus loans) amounted to P$4,650,085 million, representing an increase of P$1,333,436 million compared to Net Financial Debt as of December 31, 2024, adjusted for inflation. This increase was mainly driven by the financing obtained for the acquisition of TMA.In relative terms, the leverage profile improved, as net financial debt increased at a lower pace than Operating Income before D, A & I.* Contemplates rate swaps and NDF (non-delivery forwards) agreements.Investments in PP&E, intangible assets and rights of use assetsAs of December 31, 2025, consolidated CAPEX (including additions to PP&E and intangible assets) totaled P$1,485,577 million (+98.3% vs. FY24). CAPEX for Telecom (excluding TMA) totaled P$1,028,975 million (+37.4% vs. FY24). Including additions from right-of-use, investments amounted to P$1,681,289 million, including P$468,175 million related to TMA.The investments were focused on:Expansion of both fixed and mobile data services to improve transmission and access speed offered to customers, the deployment of 4G coverage and capacity, and continued expansion of 5G to support mobile internet growth and enhance service quality.Deployment and modernization of 4G mobile access sites to improve coverage and increase mobile network capacity. The 4G/LTE rollout reached 98% population coverage. According to the latest benchmark conducted by Ookla in December 2025, our mobile network customers with access to our 4G network experienced improved service quality, reaching average speeds of 78 Mbps.During 2025, we continued expanding our 5G network with the addition of 819 sites.In broadband, we continued driving the expansion of our FTTH network and the strong commercial performance of our fixed services. As of December 31, 2025, FTTH accesses represent 30% of Personal's broadband base, with nearly 1.3 million accesses, supported by accelerated fiber deployment.Relevant financial events of the periodDividend PaymentPursuant to the powers delegated by the Ordinary and Extraordinary Shareholders' Meeting of Telecom Argentina held on April 25, 2025, on November 10, 2025, the Board of Directors resolved to distribute dividends consisting of: (i) Global Bonds 2030 for a total amount of P$189,790 million, (ii) P$20,286 million in cash, and (iii) the application of a credit of P$16,680 million corresponding to the payment previously made by the Company in respect of the Personal Assets Tax, with a partial release of the "Facultative Reserve to Maintain the Level of Investments in Capital Assets and the Company's Current Solvency Level".Merger by Absorption of TSMAOn December 1, 2025, the Board of Directors of the Company and the Board of Directors of its controlled company TELEDIFUSORA SAN MIGUEL ARCANGEL S.A. (TSMA) approved the commencement of a corporate reorganization process consisting of the merger by absorption of TSMA (as absorbed company) by Telecom Argentina (as absorbing company), effective as of January 1, 2026, from which date TSMA's operations shall be considered as carried out by Telecom Argentina.Brand Consolidation - PersonalDuring December 2025, the Company consolidated its commercial brands under the Personal brand across the following business segments: connectivity (Personal Fibra and Personal Móvil), entertainment (Personal Flow), digital finance (Personal Pay), smart home solutions (Personal Smarthome and Tienda Personal), and technology for enterprises and governments (Personal Tech).This change applies solely to commercial brands and does not affect the Company's corporate structure or its standing in the financial markets. Telecom Argentina S.A. remains the Company's legal name, and the ticker symbols under which it trades on Bolsas y Mercados Argentinos (BYMA) and the New York Stock Exchange (NYSE) remain unchanged.Relevant Matter - CFOEffective December 23, 2025. Mr. Gabriel Blasi stepped down as CFO of Telecom Argentina for strictly personal reasons.The Company is in the process of appointing a new CFO. Until such appointment is completed, the CFO responsibilities will be assumed on an interim basis by Mr. Federico Pra, Finance Director of Telecom Argentina.Relevant events after December 31, 2025Issuance of International Notes Class 27 and Use of ProceedsClassCurrencyPrincipal issuedIssuance
dateMaturity
datePrincipal maturityInterest rateInterest payment(in millions)27US$60001/202601/2036In two installments:50% 01/203550% 01/2036Fixed 8.50%SemiannualAs of the date of this press release, the Company used part of the proceeds obtained from Notes Class 27 to:(i) fully prepay the Syndicated and Bilateral loans related to the acquisition of TMA. The amount prepaid totaled US$182 million, plus accrued interest, and was executed on January 27, 2026; and(ii) fully prepay Notes Class 1, due in July 2026, for a total amount of US$164 million, including accrued interest. The prepayment was executed on February 25, 2026.Personal Pay - Agreement with Banco MacroOn January 22, 2026, Telecom Argentina and its subsidiaries Micro Fintech Holding and Micro Sistemas entered into an agreement with Banco Macro S.A. aimed at promoting the growth and expansion of Micro Sistemas' business, a payment services provider operating under the Personal Pay brand.This alliance will enable the development of a differentiated comprehensive offering for customers operating on the Personal Pay platform, while also expanding the range of financial products and services available to a broader customer base, leveraging Banco Macro's leading market position.Under this agreement, Banco Macro made a capital contribution and subscribed shares representing 50% of the share capital and voting rights of Micro Sistemas, for an amount in pesos equivalent to US$75 million.The transaction is subject to approval by the Competition Defense Authority, in accordance with applicable regulations.Full Redemption of Notes Class 1On February 25, 2026, the Company carried out the full redemption of its Notes Class 1 for an amount equivalent to US$162.7 million. The total redemption price amounted to US$164.1 million, including US$1.3 million in accrued interest as of the payment date.Issuance of Local Notes Class 28ClassCurrencyPrincipal issuedIssuancedateMaturitydatePrincipal maturityInterest rateInterest payment(in millions)28US$
MEP81.303/202603/2029At maturityFixed 6.50%SemiannualAllocation of Results for the Fiscal YearThe fiscal year ended December 31, 2025, resulted in a Net Loss of P$123,939,460,761. The Board of Directors proposes that the Annual Shareholders' Meeting resolve, with respect to the Unappropriated Results as of December 31, 2025, which show a negative balance of P$123,939,460,761, as follows:To absorb the amount of P$123,939,460,761 from the "Facultative Reserve to Maintain the Level of Investments in Capital Assets and the Company's Current Solvency Level"; andThat the results recorded during the fiscal year ended December 31, 2025, arising from the higher value assigned to the assets and liabilities identified and incorporated as of January 1, 2018 (effective date of the merger through which Telecom Argentina absorbed Cablevisión S.A.), which, net of tax effects, amount to a negative P$115,492,131,831, be reclassified against the Merger premium.Telecom Argentina is a leading telecommunications company in Argentina, offering services combining mobile telephony services, cable television services, internet services and fixed telephony services. We also provide Fintech Services, other telephone related services, such as international long-distance and wholesale services, data transmission and IT solutions outsourcing and we install, operate and develop cable television and data transmission services. We provide our services in Argentina (mobile, cable television, internet, fixed and data, fintech services, among others), Paraguay (mobile, internet, satellite TV, fintech services, among others), Uruguay (cable television services, internet and cybersecurity services and products), the United States (fixed wholesale services) and Chile (cybersecurity services and products). These consolidate an ecosystem of platforms and new businesses, providing a comprehensive and convergent experience for our customers.As of December 31, 2025, Telecom Argentina owns 2,153,688,011 issued and outstanding shares.For more information, please contact Investor Relations:Luis Fernando Rial Ubago
lfrialubago@personal.com.arTomás Pellicori
tlpellicori@personal.com.arLucas Gaeta
lgaeta@personal.com.ar For information about Telecom Argentina's services, visit:www.personal.com.ar
www.personal.com.pyDisclaimerThis document may contain statements that could constitute forward-looking statements, including, but not limited to (i) the Company's expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; (ii) the continued synergies expected from the merger between the Company and Cablevisión S.A. (or the "Merger")and/or the acquisition or Telefónica Móviles Argentina S.A. (or the "Acquisition"); (iii) the implementation of the Company's business strategy; (iv) the changing dynamics and growth in the telecommunications and cable markets in Argentina, Paraguay, Uruguay and the United States; (v) the Company's outlook for new and enhanced technologies; (vi) the effects of operating in a competitive environment; (vii) the industry conditions; (viii) the outcome of certain legal proceedings; and (ix) regulatory and legal developments. Forward-looking statements may be identified by words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "will," "may" and "should" or other similar expressions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. In addition, certain forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Many factors could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by forward-looking statements. These factors include, among others: (i) the Company's ability to successfully implement our business strategy and to achieve synergies resulting from the Merger and/or the Acquisition; (ii) the Company's ability to introduce new products and services that enable business growth; (iii) uncertainties relating to political and economic conditions in Argentina, Paraguay, Uruguay and the United States, including the policies of the new government in Argentina; (iv) the impact of political developments, including the policies of the new government in Argentina, on the demand for securities of Argentine companies; (v) inflation, the devaluation of the peso, the Guaraní and the Uruguayan peso and exchange rate risks in Argentina, Paraguay and Uruguay; (vi) restrictions on the ability to exchange Argentine or Uruguayan pesos or Paraguayan guaraníes into foreign currencies and transfer funds abroad; (vii) the impact of currency and exchange measures or restrictions on our ability to access the international markets and our ability to repay our dollar-denominated indebtedness; (viii) the creditworthiness of our actual or potential customers; (ix) the nationalization, expropriation and/or increased government intervention in companies; (x) technological changes; (xi) the impact of legal or regulatory matters, changes in the interpretation of current or future regulations or reform and changes in the legal or regulatory environment in which the Company operates, including regulatory developments such as sanctions regimes in other jurisdictions (e.g., the United States) which impact on the Company's suppliers; (xii) the effects of increased competition; (xiii) reliance on content produced by third parties; (xiv) increasing cost of the Company's supplies; (xv) inability to finance on reasonable terms capital expenditures required to remain competitive; (xvi) fluctuations, whether seasonal or in response to adverse macro-economic developments, in the demand for advertising; (xvii) the Company's ability to compete and develop our business in the future; (xviii) the impact of increased national or international restrictions on the transfer or use of telecommunications technology; and (xix) the impact of the outbreak of COVID-19 on the global economy and specifically on the economies of the countries in which we operate, as well as on our operations and financial performance. Many of these factors are macroeconomic and regulatory in nature and therefore beyond the control of the Company's management. Should one or more of these risks or uncertainties materialize, or underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, planned or projected. The Company does not intend and does not assume any obligation to update the forward-looking statements contained in this document.These forward-looking statements are based upon a number of assumptions and other important factors that could cause our actual results, performance or achievements to differ materially from our future results, performance or achievements expressed or implied by such forward-looking statements. Readers are encouraged to consult the Company's Annual Report on Form 20-F and the periodic filings made on Form 6-K, which are periodically filed with or furnished to the United States Securities and Exchange Commission, as well as the presentations periodically filed before the Argentine Securities and Exchange Commission (Comisión Nacional de Valores) and the Buenos Aires Stock Exchange (Bolsas y Mercados Argentinos), for further information concerning risks and uncertainties faced by the Company.SOURCE: Telecom Argentina S.A.View the original press release on ACCESS NewswireOriginal: Telecom Argentina S.A. Announces Consolidated Annual Results ("FY25") and Fourth Quarter of Fiscal Year 2025 ("4Q25")(2)

News: $TEO Telecom Argentina S.A. announces consolidated six month period ('1H19') and second quarter results for fiscal year 2019 ('2Q19')*

BUENOS AIRES, Argentina , Aug. 9, 2019 /PRNewswire/ -- Note:   For the figures included in their FFSS, the Company has accounted for the effects of inflation adjustment adopted by Resolution 777/18 of the Comisión Nacional de Valores ("CNV"), which establishes that the r...

Read the whole news Telecom Argentina S.A. announces consolidated six month period ('1H19') and second quarter results for fiscal year 2019 ('2Q19')*

$TEO recent news/filings

bullish optionable

## source: finance.yahoo.com

Fri, 01 Aug 2014 19:26:13 GMT ~ As Argentina Defaults on Debt, Investors Flee from Stocks


read full: http://finance.yahoo.com/news/argentina-defaults-debt-investors-flee-192613315.html
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Wed, 30 Jul 2014 17:55:00 GMT ~ Telecom Argentina S.A. announces consolidated six month period ('1H14') and second quarter ('2Q14') results for fiscal year 2014*

[PR Newswire] - BUENOS AIRES, Argentina, July 30, 2014 /PRNewswire/ -- Telecom Argentina ('Telecom') - (NYSE: TEO; BASE: TECO2), one of Argentina's leading telecommunications companies, announced today a Net Income of ...

read full: http://finance.yahoo.com/news/telecom-argentina-announces-consolidated-six-175500580.html
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Tue, 15 Jul 2014 11:01:02 GMT ~ Telecom Argentina (TEO) Enters Overbought Territory

[Zacks] - Telecom Argentina (TEO) Enters Overbought Territory

read full: http://finance.yahoo.com/news/telecom-argentina-teo-enters-overbought-110102238.html
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Thu, 10 Jul 2014 12:51:00 GMT ~ Germany vs. Argentina: Investors Look to 2015 for Potential Returns


read full: http://finance.yahoo.com/news/germany-vs-argentina-investors-look-125100898.html
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Wed, 21 May 2014 19:29:00 GMT ~ Telecom Argentina S.A. announces dividends for the fiscal year ended on December 31, 2013

[PR Newswire] - BUENOS AIRES, Argentina, May 21, 2014 /PRNewswire/ -- Telecom Argentina S.A. ("Telecom Argentina" or the "Company") (BASE: TECO2, NYSE: TEO), one of Argentina's leading telecommunications groups, announced that in the second part of the General Ordinary Shareholders Meeting on April 29, 2014 adjourned to May 21, 2014 a cash dividend distribution was approved in the amount of P$ 1,201,757,911. The amount to be distributed in the first installment is equivalent to P$0.62 per outstanding share in circulation or P$3.10 per ADR, prior to deductions of the Personal Asset Tax and Income Tax obligations, as described below. For these shareholders, payment will be made through Caja de Valores S.A. in Argentina. The Company will deduct from the dividend payment the proportionate value of the amount paid by the Company related to the Personal Asset Tax (pursuant to the unnumbered section following section 25 of Law No. 23,966, as amended) for fiscal year 2013.

read full: http://finance.yahoo.com/news/telecom-argentina-announces-dividends-fiscal-192900921.html
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$TEO charts

basic chart ## source: stockcharts.com



basic chart ## source: eoddata.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com


$TEO company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/TEO/company-info
Ticker: $TEO
OTC Market Place: Not Available
CIK code: 0000932470
Company name: Telecom Argentina S.A.
Incorporated In: Argentina


$TEO share structure

## source: otcmarkets.com

Market Value: Not Available
Shares Outstanding: Not Available
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value
$TEO extra dd links

Company name: Telecom Argentina S.A.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/TEO/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/TEO/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=TEO+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=TEO+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=TEO+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/TEO/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/TEO/news - http://finance.yahoo.com/q/h?s=TEO+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/TEO/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/TEO/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/TEO/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/TEO/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/TEO/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/TEO/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/TEO/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/TEO/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=TEO+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/TEO
DTCC (dtcc.com): http://search2.dtcc.com/?q=Telecom+Argentina+S.A.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Telecom+Argentina+S.A.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Telecom+Argentina+S.A.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/TEO/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/TEO
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/TEO/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/TEO/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/TEO/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000932470&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/TEO/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/TEO/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/TEO/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/TEO/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=TEO&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=TEO
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/TEO/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=TEO+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=TEO+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=TEO
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=TEO
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=TEO+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/TEO/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=TEO+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/TEO.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=TEO
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/TEO/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/TEO/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/TEO/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/TEO/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/TEO
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/TEO
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/TEO:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=TEO
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=TEO



$TEO DD Notes ~ http://www.ddnotesmaker.com/TEO

TEO...looks like a good entry...even more important I get my first post on a board in almost 11 years as an I-hub member!