Telefonica Brasil S.A. ADR (TSPA)
XMUN 
Summary
TSPA Chart
Telefonica Brasil Q2 Earnings Call Highlights
Telefonica Brasil NYSE: VIV, which operates under the Vivo brand, reported second-quarter 2026 revenue growth above inflation, expanding profitability and cash generation as postpaid mobile, fiber and digital businesses contributed to results.
Vivo Q2: A High-Quality Compounder Trapped By Brazil's Interest Rates
Vivo (VIV) demonstrates robust business health, with high single-digit top-line growth, strong cash flow, and operational efficiency in a favorable oligopolistic Brazilian market. VIV's recurring revenues now comprise 85% of service revenue, with postpaid and fiber segments driving healthy ARPU growth and lower churn versus U.S. peers. Despite a 10% free cash flow yield and low leverage, VIV's valuation is only moderately attractive relative to high Brazilian risk-free rates.
Telefonica Brasil: That's Why Starlink Is Not A Threat
I reiterate my buy rating on Telefônica Brasil, seeing 16% upside to a $15.33 fair value. VIV faces minimal threat from Starlink, as customer overlap is limited to remote regions, not VIV's urban strongholds. Sector consolidation, mature infrastructure, and a focus on high-density, high-HDI regions underpin VIV's competitive advantage and margin strength.
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Telefonica Brasil S.A. ADR Profile
| Diversified Telecommunication Services Industry | Communication Services Sector | Christian Mauad Gebara CEO | XMUN Exchange | US87936R2058 ISIN |
| BR Country | 32,759 Employees | 28 Jul 2026 Last Dividend | - Last Split | 16 Nov 1998 IPO Date |
Overview
Telefônica Brasil S.A., a leading mobile telecommunications company in Brazil, has established a strong presence in the telecommunications industry alongside its subsidiaries. Originally known as Telecomunicações de São Paulo S.A. - TELESP, the company underwent a rebranding to Telefônica Brasil S.A. in October 2011. Founded in 1998 with its headquarters in São Paulo, Brazil, the company has expanded its services across various segments, delivering comprehensive telecommunication solutions to a diverse clientele. Telefônica Brasil caters to retail, manufacturing, service industries, financial institutions, and government sectors, providing a wide range of telecommunications solutions and IT support.
Products and Services
- Fixed Line Services
Offers local, domestic long-distance, and international long-distance telephony services, catering to both businesses and households.
- Mobile Portfolio
Includes voice and broadband internet access services through advanced technologies such as 3G, 4G, 4.5G, and 5G. The company also provides mobile value-added and wireless roaming services.
- Data Services
Provides both broadband and mobile data services, ensuring high-speed internet access for subscribers.
- Pay TV Services
Delivers a wide selection of channels and content through IPTV technologies, enhancing the entertainment experience for users.
- Network Services
Offers facility rental, catering to the needs of various businesses requiring robust network infrastructure.
- Other Services
Includes a variety of offerings such as internet access, private network connectivity, computer equipment leasing, extended service, caller identification, voice mail, cellular blocker, and more.
- Wholesale Services
Provides interconnection services to other network providers, facilitating a comprehensive telecommunication ecosystem.
- Digital Services
Focuses on digital transformation by offering services in entertainment, cloud, security, and financial services, addressing the evolving needs of digital consumers.
- Multimedia Communication Services
Offers a blend of audio, data, voice, other sounds, images, texts, and other information services, catering to the diverse communication needs of modern users.
- Device Sales
Sells smartphones, broadband USB modems, and other devices, providing the necessary hardware for utilizing their services.
- Telecommunications Solutions and IT Support
Provides tailored telecommunications solutions and IT support to a variety of industries, emphasizing on customization to meet specific business needs.
- Sales Channels
Markets and sells its solutions through a mix of own stores, dealers, retail and distribution channels, door-to-door sales, and outbound tele sales, ensuring wide accessibility and convenience for customers.
