The telco's revenues amounted to US$ 1,194 million in the first nine months of 2024, which represents a decrease of 7.2% compared to the cumulative figure for the same period in 2023.
The telco Telefónica de Perú reported that as of September 2024 it had recorded a loss of S/ 2,534 million (approximately US$ 667.5 million). The company attributed this result to a more complex market scenario and an environment of limited predictability and legal certainty, as well as to the lawsuits and litigation it maintains with the National Superintendence of Tax Administration (Sunat).
In order to deal with the process with Suna, Telefónica reported that the Board of Directors agreed to the capitalization of loans granted by Telefónica Hispanoamérica for an amount of S/2,069 million (US$ 545.7 million).
In terms of revenue, the telecommunications operator reported S/ 4,527 million (US$ 1,194 million) in the first nine months of 2024, which represents a decrease of 7.2% compared to the cumulative total for the same period in 2023.
In the third quarter, in the fixed services business (voice, internet, pay TV and IT), revenues amounted to S/ 655 million (US$ 172.7 million), 14.2% less than in 3Q23.
"This result is explained by the rapid erosion of HFC connections, despite the accelerated migration process to optical fibre in which the company is involved," says Telefónica.
In this regard, the company currently has 934,000 customers connected to fiber, which represents an increase of 43% compared to 3Q23. At the end of 3Q24, the company has fiber coverage, directly or through Pangea, in 4.1 million homes (+46.6% compared to 3Q23).
In the mobile business, Telefónica del Perú recorded revenues of S/ 827.8 million (US$ 218.3 million), 6.1% less than in 3Q23. "This result is generated by lower revenues in the postpaid segment derived from the intensification of portability, as well as a lower volume of prepaid recharges," the telco claims.
According to the company, although total mobile revenues decreased compared to 3Q23, they showed growth compared to 2Q24, driven by a stable customer base with improved performance in service revenues. "Postpaid porting (which represents 74% of total porting) reached an all-time high and grew 12% compared to 3Q23," it said.
