Orange S.A. Q3 2026 Earnings Recap

Orange reported Q3 revenue growth of 3.6% and raised its full-year EBITDAaL growth outlook to above 4.5%; the stock was roughly flat, down 0.5% after the results. The group’s growth was broad-based, though Orange Business revenue declined and France’s revenue growth remained modest.

Key Takeaways

• Group revenue rose 3.6% to €12.2 billion; EBITDAaL increased 4.6%, and operating cash flow grew 10.3%.
• Management lifted full-year EBITDAaL growth guidance to above 4.5%, citing Q3 performance.
• Africa and Middle East revenue grew more than 14% for a 14th consecutive quarter of double-digit growth; Europe 6 revenue increased 5.3%.
• France revenue rose 0.5%, with retail revenue excluding PSTN up 1.1%; Orange cited record net additions across mobile, fixed and convergence.
• Orange Business revenue fell 2.5%, which the company attributed to an IT market still affected by the macro environment.