Swisscom AG

SCMN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Swisscom Earnings: Revenue Trends Improve, but Premium Valuation Remains Hard to Justify

Javier Correonero, Andrea Burigana

Nov 5, 2026

Swisscom’s third-quarter adjusted EBITDA after leases increased 2% year over year to CHF 1.33 billion, supported by continued cost savings and synergy realizations. Telecom service revenue declines moderated in both Switzerland and Italy, but underlying top-line pressure persisted.

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Swisscom AG

Swisscom Earnings: Revenue Trends Improve, but Premium Valuation Remains Hard to Justify

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