Swisscom AG Q3 2026 Earnings Recap

Swisscom shares rose 1.3%, a roughly flat reaction. The quarter showed improving free cash flow and some consumer and IT momentum, while service-revenue declines and continued B2B customer pressure remained in focus.

Key Takeaways

• Operating free cash flow reached CHF 1.79 billion for the first nine months, up CHF 184 million year over year; management confirmed 2026 guidance.
• Swiss B2C mobile net adds were 18,000, while broadband net adds were negative 7,000. Mobile and broadband ARPUs were broadly stable.
• Swiss B2B continued to face RGU pressure in mobile and broadband, partly offset by higher ARPU, which rose to CHF 36 from CHF 35 in the prior quarter.
• Swiss B2B IT revenue grew CHF 8 million quarter over quarter, with profitability up CHF 5 million, or 14%.
• In Italy, management said integration remained on track and reiterated the plan to deliver at least EUR 300 million of the EUR 600 million in synergies by year-end.