Switzerland's Swisscom Q1 revenue falls 4.1%, net income down 9.6%

Swisscom AG

07/05/2026 06:33

Overview

Swiss telecoms group's Q1 revenue fell 4.1% yr/yr, net income down 9.6%

Operating free cash flow rose 22.6% yr/yr on an adjusted basis

Vodafone Italia integration on track, supporting cost synergies

Outlook

Swisscom confirms 2026 revenue guidance of CHF 14.7-14.9 bln

Company maintains 2026 EBITDAaL forecast at CHF 5.0-5.1 bln

Swisscom expects 2026 operating free cash flow of around CHF 2.0 bln

Result Drivers

REVENUE DECLINE - Group revenue fell due to lower telecommunications and IT services revenue in both Switzerland and Italy

COST SAVINGS - Cost-saving measures in Switzerland offset more than half the impact of lower telecommunications services revenue

SYNERGIES IN ITALY - Integration of Vodafone Italia and related synergies boosted adjusted EBITDAaL and operating free cash flow in Italy

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
CHF 3.61 bln
Q1 Net Income
CHF 332 mln
Q1 Capex
CHF 693 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and 9 "sell" or "strong sell"

Wall Street's median 12-month price target for Swisscom AG is CHF575.00, about 14.3% below its May 6 closing price of CHF671.00

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 24 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)