Vodafone Qatar (VFQS) Q3 2026 earnings summary

Executive summary

• Nine-month revenue rose 4.7% to QR 2,703.1m, service revenue grew 8.1%, and net profit increased 23.7% to QR 611.0m.

• FY26 revenue, EBITDA margin and net profit growth guidance was raised; mobile subscribers reached 2.1m, up 1.2% YoY.

Financial highlights

• Nine-month service revenue was QR 2,382m, up 8.1%; total revenue increased QR 122m, while non-service revenue fell QR 56m amid reduced equipment shipments.

• EBITDA rose 10.9% to QR 1,215.8m; operating profit was QR 701.2m versus QR 580.8m, and net profit was QR 611.0m versus QR 494.0m.

• Q3 revenue increased 8.3% to QR 901.4m, EBITDA grew 11.5% to QR 406m, and net profit rose 27.1% to QR 210.1m.

• Nine-month EPS increased to QR 0.145 from QR 0.117; Q3 EPS was QR 0.050 versus QR 0.039.

• Nine-month operating cash flow was QR 1,103.5m versus QR 1,157.1m; cash and cash equivalents ended at QR 647.5m versus QR 315.8m.

Outlook and guidance

• FY26 revenue growth guidance increased from mid-single digits to 6%-8% YoY; EBITDA margin guidance rose from above 43.5% to 44%-45%.

• FY26 net profit growth guidance was set at 15%-17%, and CapEx intensity guidance remained 14.5%-15.5%.

• CapEx is expected to reach ~90%-92% of the initial plan by December, supporting 2027 growth plans.

• Management will monitor regional developments; nine-month results are not necessarily indicative of full-year results.