Earnings preview · TEF.MC
Telefónica earnings preview (November 12): what analysts expect
Telefónica, S.A. reports its Jul-Sep 2026 quarter on Thursday, November 12. Here is what the market expects and how it gets there, in charts.
InbestPlanners · Updated Nov 9, 2026 · 3 min read
Thursday, November 12
Results day · call at 10:00 AM Madrid time · confirmed date
In 30 seconds
- Expected earnings per share: €0.12 (+148.4% on the same quarter a year ago).
- Expected sales: €8.4B (-6.7% year on year).
- It beat the earnings estimate in 0 of its last 4 quarters.
- The share arrives down 6.2% over three months and up 1.2% over a year.
Expected EPS
€0.12
+148.4% vs. a year ago
Expected sales
€8.4B
-6.7% y/y
Beat estimates
0 / 4
last quarters
Share, 12 months
+1.2%
Close €3.41
Earnings per share: expected against reported
Every quarter analysts publish how much they think Telefónica will earn per share. The grey bar is their estimate; the coloured one, what the company reported. On the right, what they expect now (3 analysts), with the lowest and highest estimate.
Jul-Sep
2025
Miss
Oct-Dec
2025
Miss
Jan-Mar
2026
Miss
Apr-Jun
2026
Miss
Jul-Sep
2026
Now
In the last 4 quarters it beat the estimate 0 times. On average, reported earnings came in 201.4% above the estimate.
Sales and margins
Sales each quarter, in billions of EUR; the dotted bar is what is expected now: €8.4B, against €9.0B a year earlier.
Jan-Mar
2025
Apr-Jun
2025
Jul-Sep
2025
Oct-Dec
2025
Jul-Sep
2026
| Quarter | Gross margin | Operating margin | Net income |
|---|---|---|---|
| Jan-Mar 2025 | — | 8.0% | €-1.3B |
| Apr-Jun 2025 | — | 17.1% | €-51.0M |
| Jul-Sep 2025 | — | 9.1% | €276.0M |
| Oct-Dec 2025 | — | -2.6% | €-3.2B |
What to watch on November 12
- 01
Earnings per share
The benchmark is €0.12. Above it, the market reads "beat".
- 02
Sales
€8.4B expected. Profit can beat through cuts; sales tell whether the business grows.
Frequently asked questions
When does Telefónica report earnings?
Telefónica reports its Jul-Sep 2026 quarter on Thursday, November 12. The analyst call is at 10:00 AM Madrid time.
What EPS do analysts expect from Telefónica?
The consensus of 3 analysts is €0.12 per share, with estimates from €0.10 to €0.14. A year ago it was €0.05.
What sales are expected from Telefónica?
Analysts expect sales of €8.4B, against €9.0B a year ago.
Does Telefónica usually beat estimates?
In the last 4 quarters it beat the EPS estimate 0 times; on average reported earnings came in 201.4% above the estimate. Having done it before says nothing about this time.
Information, not investment advice. Figures are the data provider's (analyst consensus and accounts published by Telefónica, S.A.) as of Nov 9, 2026; EPS is the one analysts compare and may differ from reported GAAP figures. Quarters are calendar quarters (Jul-Sep 2026), whatever the company's fiscal numbering. Past performance does not guarantee future results.