Telefônica Brasil announced robust financial results for the third quarter of 2024, with net operating revenue reaching R$14,039 million, marking a 7.1% year-over-year increase. This growth was primarily fueled by a strong performance in mobile services revenue, which expanded by 8.8% year-over-year, driven by double-digit growth in postpaid revenue of 10.4%. The postpaid customer base grew by 7.6% year-over-year to 65.0 million, contributing to a 3.5% increase in postpaid ARPU (excluding M2M and dongles) to R$53.0.
Fixed revenue also saw a 3.6% year-over-year increase, largely due to the strong performance of Fiber-to-the-Home (FTTH) revenue, which grew by 14.0% to R$1,790 million. The FTTH network expanded to 28.3 million homes passed, a 12.7% year-over-year increase, with 6.7 million homes connected, up 12.5% year-over-year. Corporate Data, ICT, and other digital services also contributed positively with a 6.5% year-over-year growth.
EBITDA for the quarter totaled R$5,950 million, an increase of 7.4% year-over-year, with the EBITDA margin expanding by 0.1 percentage points to 42.4%. Net income attributed to Telefônica Brasil rose by 13.3% year-over-year to R$1,667 million, resulting in earnings per share (EPS) of R$1.02, a 14.4% increase. Capital expenditure (CapEx) excluding IFRS 16 decreased by 5.0% year-over-year to R$2,495 million, representing 17.8% of revenues, a reduction of 2.3 percentage points year-over-year, indicating improved capital intensity. The company's 5G network now covers 394 cities, reaching 57% of the Brazilian population.
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