Telecom Argentina S.A (TEO) Income Statement
TEO 2025 at a glance
Fiscal year ended December 31, 2025 · Argentine pesosTEO revenue and net income
Where TEO's revenue goes
2025Each bar shows an amount and its share of revenue. TEO kept −2.0% of revenue as net income.
TEO profit margins
TEO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +101.3% | +19.0% | +56.5% | +70.3% |
| Gross profit | +107.1% | +19.9% | +56.7% | +71.5% |
| Operating income | — | — | +70.6% | +63.7% |
| Net income | −116.8% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TEO income statement in Argentine pesos
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ARS 8.33T | ARS 4.14T | ARS 5.90T | ARS 4.94T | ARS 2.58T | ARS 886.76B | ARS 487.07B | ARS 351.95B | ARS 102.53B | ARS 60.41B |
| Cost of revenue | ARS 2.05T | ARS 1.11T | ARS 1.57T | ARS 1.30T | ARS 695.18B | ARS 222.19B | ARS 129.27B | ARS 91.95B | ARS 27.96B | ARS 17.93B |
| Gross profit | ARS 6.28T | ARS 3.03T | ARS 4.33T | ARS 3.65T | ARS 1.89T | ARS 664.58B | ARS 357.80B | ARS 260.00B | ARS 74.57B | ARS 42.47B |
| Research & development | — | — | — | — | — | — | ARS 0 | ARS 0 | ARS 0 | ARS 0 |
| Sales, general & admin | ARS 2.28T | ARS 1.18T | ARS 1.82T | ARS 1.45T | ARS 745.70B | ARS 227.12B | ARS 129.74B | ARS 92.75B | ARS 25.35B | ARS 14.93B |
| Total operating expenses | ARS 5.42T | ARS 3.18T | ARS 4.49T | ARS 5.65T | ARS 1.90T | ARS 604.91B | ARS 325.34B | ARS 215.48B | ARS 52.56B | ARS 30.16B |
| Operating income | ARS 861.44B | −ARS 146.47B | −ARS 159.83B | −ARS 2.00T | −ARS 16.91B | ARS 59.67B | ARS 32.46B | ARS 44.52B | ARS 22.01B | ARS 12.32B |
| Interest income | ARS 628.74B | ARS 24.30B | ARS 4.11B | ARS 30.98B | ARS 38.19B | ARS 20.76B | ARS 16.84B | ARS 51.90B | ARS 209.0M | ARS 1.95B |
| Interest expense | ARS 479.66B | ARS 256.5M | ARS 193.68B | ARS 100.0M | ARS 103.21B | ARS 46.51B | ARS 220.1M | ARS 9.08B | ARS 1.63B | ARS 1.76B |
| Income before taxes | −ARS 191.74B | ARS 1.44T | −ARS 1.68T | −ARS 1.57T | ARS 262.40B | ARS 9.25B | ARS 21.13B | ARS 5.65B | ARS 23.65B | ARS 16.56B |
| Income taxes | −ARS 46.43B | ARS 409.15B | −ARS 968.99B | −ARS 179.73B | ARS 202.10B | ARS 24.26B | ARS 29.12B | −ARS 5.94B | ARS 8.49B | ARS 6.01B |
| Net income | −ARS 170.01B | ARS 1.01T | −ARS 738.31B | −ARS 1.41T | ARS 8.66B | −ARS 16.80B | −ARS 9.03B | ARS 11.09B | ARS 14.97B | ARS 10.46B |
| EBITDA | ARS 2.34T | ARS 2.91T | ARS 526.57B | ARS 238.59B | ARS 1.18T | ARS 297.50B | ARS 163.88B | ARS 83.89B | ARS 40.36B | ARS 26.20B |
| Gross margin | 75.4% | 73.3% | 73.4% | 73.8% | 73.1% | 74.9% | 73.5% | 73.9% | 72.7% | 70.3% |
| Operating margin | 10.3% | −3.5% | −2.7% | −40.4% | −0.7% | 6.7% | 6.7% | 12.6% | 21.5% | 20.4% |
| Net margin | −2.0% | 24.5% | −12.5% | −28.5% | 0.3% | −1.9% | −1.9% | 3.2% | 14.6% | 17.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ARS 2.56T | ARS 2.36T | ARS 2.71T | ARS 2.07T | ARS 1.91T | ARS 1.81T | ARS 1.29T | ARS 1.07T | ARS 1.03T | ARS 1.03T | ARS 933.84B | ARS 833.21B |
| Cost of revenue | ARS 581.48B | ARS 557.49B | ARS 640.67B | ARS 526.57B | ARS 464.87B | ARS 449.92B | ARS 341.85B | ARS 290.71B | ARS 274.46B | ARS 271.08B | ARS 260.86B | ARS 208.97B |
| Gross profit | ARS 1.98T | ARS 1.80T | ARS 2.07T | ARS 1.54T | ARS 1.45T | ARS 1.36T | ARS 943.40B | ARS 775.72B | ARS 753.87B | ARS 759.14B | ARS 672.98B | ARS 624.24B |
| Sales, general & admin | ARS 241.34B | ARS 215.29B | ARS 1.99T | ARS 207.83B | ARS 647.42B | ARS 426.97B | ARS 377.41B | ARS 208.71B | ARS 344.17B | ARS 310.21B | ARS 285.97B | ARS 249.22B |
| Total operating expenses | ARS 1.06T | ARS 976.45B | ARS 2.93T | ARS 889.51B | ARS 883.77B | ARS 817.29B | ARS 983.51B | ARS 816.49B | ARS 827.90B | ARS 816.29B | ARS 748.43B | ARS 636.23B |
| Operating income | ARS 921.27B | ARS 823.75B | −ARS 864.36B | ARS 649.13B | ARS 563.04B | ARS 538.88B | −ARS 40.10B | −ARS 40.77B | −ARS 74.03B | −ARS 57.15B | −ARS 75.45B | −ARS 11.98B |
| Interest income | ARS 3.56B | — | ARS 42.90B | ARS 422.42B | ARS 25.12B | ARS 2.79B | ARS 8.70B | ARS 797.84B | ARS 8.89B | ARS 2.45B | ARS 8.31B | ARS 1.28B |
| Interest expense | ARS 118.47B | ARS 155.43B | ARS 188.08B | ARS 160.24B | ARS 83.69B | ARS 75.07B | ARS 60.9M | ARS 41.53B | ARS 98.0M | ARS 24.9M | ARS 30.02B | ARS 29.6M |
| Income before taxes | ARS 292.96B | ARS 963.64B | ARS 145.22B | −ARS 293.42B | −ARS 266.83B | ARS 282.38B | ARS 68.40B | ARS 1.38T | −ARS 597.25B | ARS 21.19B | −ARS 70.10B | ARS 64.81B |
| Income taxes | ARS 110.41B | ARS 320.66B | ARS 17.98B | −ARS 100.94B | −ARS 92.47B | ARS 158.79B | −ARS 12.94B | ARS 328.74B | −ARS 262.40B | −ARS 77.80B | −ARS 85.52B | −ARS 45.66B |
| Net income | ARS 174.15B | ARS 636.68B | ARS 119.15B | −ARS 200.36B | −ARS 178.21B | ARS 118.10B | ARS 73.77B | ARS 1.05T | −ARS 339.03B | ARS 93.62B | ARS 12.90B | ARS 107.67B |
| EBITDA | ARS 1.03T | ARS 1.64T | ARS 1.02T | ARS 342.32B | ARS 288.27B | ARS 807.64B | ARS 501.10B | ARS 1.66T | −ARS 216.58B | ARS 95.09B | ARS 331.51B | ARS 358.08B |
| Gross margin | 77.3% | 76.4% | 76.3% | 74.5% | 75.7% | 75.1% | 73.4% | 72.7% | 73.3% | 73.7% | 72.1% | 74.9% |
| Operating margin | 36.0% | 34.9% | −31.9% | 31.4% | 29.5% | 29.8% | −3.1% | −3.8% | −7.2% | −5.5% | −8.1% | −1.4% |
| Net margin | 6.8% | 27.0% | 4.4% | −9.7% | −9.3% | 6.5% | 5.7% | 98.3% | −33.0% | 9.1% | 1.4% | 12.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in Argentine pesos as reported in TEO's financial statements (latest annual report filed March 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TEO financial results
In fiscal year 2025 (ended December 31, 2025), Telecom Argentina S.A reported revenue of ARS 8.33 trillion, up 101.3% from the year before. It had a net loss of ARS 170.0 billion, a net profit margin of −2.0%. Over five years revenue grew at an average rate of 56.5% a year. Figures are in Argentine pesos, the currency of its financial statements.
See the TEO stock overview for the latest quote and news, or the TEO chart for price history and technical indicators.
TEO income statement FAQ
What is Telecom Argentina S.A's annual revenue?
Telecom Argentina S.A reported total revenue of ARS 8.33 trillion for fiscal year 2025, which ended on December 31, 2025. That was up 101.3% from ARS 4.14 trillion the previous year.
Is Telecom Argentina S.A profitable?
No. Telecom Argentina S.A reported a net loss of ARS 170.0 billion in fiscal 2025, a net profit margin of −2.0%; its operating margin was 10.3%.
What is Telecom Argentina S.A's gross margin?
Telecom Argentina S.A's gross margin was 75.4% in fiscal 2025: for every $100 of revenue, Telecom Argentina S.A kept $75 after the direct cost of its products and services.
How fast is Telecom Argentina S.A growing?
Revenue grew 56.5% a year on average over the last five fiscal years, from ARS 886.8 billion to ARS 8.33 trillion.
When will Telecom Argentina S.A report its next earnings?
Telecom Argentina S.A is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 before the market opens.
When does Telecom Argentina S.A's fiscal year end?
Telecom Argentina S.A's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 11, 2026.