Swisscom H1 profit rises despite 3% revenue drop on euro weakness

Currency headwinds weighed on the Swiss telecom's top line, but operational efficiency drove higher earnings in the first half of 2026.

By Handelsavisen Newsroom · Automated 6 August 2026, 06:22 UTC · 1 min read

Swisscom reported a rise in first-half profit for 2026, offsetting a 3.0% decline in revenue to CHF 7.2 billion.

The top-line contraction was primarily driven by the weakening euro, which reduced the value of the company's Italian operations when translated into Swiss francs.

2 billion profit for the period, marking a sharp turnaround from its first-quarter loss, while Swatch Group reported revenue growth driven by strong brand performance.

The divergence between revenue and earnings highlights the operator's focus on cost discipline and margin expansion amid challenging currency conditions.

While the euro's depreciation against the franc continues to pressure cross-border European revenues for Swiss multinationals, Swisscom's ability to grow profit suggests underlying operational resilience.

The results arrive as other major Swiss corporations report mixed first-half performance.

The Swiss National Bank recently posted a CHF 25.2 billion profit for the period, marking a sharp turnaround from its first-quarter loss, while Swatch Group reported revenue growth driven by strong brand performance.