French telecommunications giant Orange reports revenue and EBITDAaL results in line with analysts’ expectations for the third quarter of 2026. The company is simultaneously raising its earnings forecast for the full year.
Revenue rose to 12 191 million euros, compared with analyst consensus of 12 036 million euros. This corresponds to a positive deviation of 1.3 percent. Revenue increased by 3.6 percent on a comparable basis and by 22.0 percent on a reported basis.
Growth was driven primarily by Africa and the Middle East, where revenue increased by 14.2 percent. Europe 6 grew by 5.3 percent, Spain by 3.5 percent and France by 0.5 percent.
EBITDAaL, which refers to EBITDA after leasing, amounted to 4 140 million euros, versus expected 4 103 million euros, a positive deviation of 0.9 percent. The result increased by 4.6 percent on a comparable basis and by 20.4 percent on a reported basis.
Investments, ecapex, decreased by 2.5 percent to 1 712 million euros. Operating cash flow, defined as EBITDAaL minus ecapex, increased by 10.3 percent to 2 428 million euros.
Orange raises its forecast for EBITDAaL growth in 2026 to more than 4.5 percent, from more than 4 percent previously. Other forecasts are reiterated.
Million eurosQ3 2026ConsensusDeviationChange on comparable basisRevenue12 19112 036+1.3 %+3.6 %EBITDAaL4 1404 103+0.9 %+4.6 %
