Telefonica raises 2026 cash flow target after Q2 growth in Spain and Brazil

Telefonica raised its 2026 annual cash flow target after reporting slightly faster second-quarter growth in Spain and Brazil, according to Telecompaper.

TL;DR

• Telefonica increased its 2026 annual cash flow target.
• The change followed stronger second-quarter growth in Spain and Brazil.
• Telecompaper reported the update, but the source excerpt did not disclose the new target figure.

Telefonica said it improved its target for annual cash flow in 2026 after a small acceleration in growth during the second quarter. The reported improvement was linked to performance in Spain and Brazil.

Spain and Brazil were the two markets cited in the report as contributing to the stronger second-quarter trend. The source excerpt did not provide revenue, EBITDA, subscriber, or cash flow figures for either country.

Telecompaper reported the guidance change, but the available source text did not include the previous 2026 cash flow target, the revised target, or the date of the announcement. No additional operating metrics were provided in the excerpt.

Related questions

• What new 2026 cash flow target did Telefonica set?
• How did Telefonica's second-quarter performance in Spain compare with Brazil?
• What previous 2026 cash flow target had Telefonica guided before this update?