Bharti Airtel Limited Just Missed Earnings - But Analysts Have Updated Their Models

Last week, you might have seen that Bharti Airtel Limited (NSE:BHARTIARTL) released its quarterly result to the market. The early response was not positive, with shares down 3.1% to ₹1,134 in the past week. Revenues of ₹379b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at ₹4.17, missing estimates by 9.5%. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

View our latest analysis for Bharti Airtel

Following the latest results, Bharti Airtel's 29 analysts are now forecasting revenues of ₹1.71t in 2025. This would be a decent 15% improvement in revenue compared to the last 12 months. Per-share earnings are expected to jump 149% to ₹34.75. In the lead-up to this report, the analysts had been modelling revenues of ₹1.71t and earnings per share (EPS) of ₹34.62 in 2025. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The consensus price target rose 8.5% to ₹1,192despite there being no meaningful change to earnings estimates. It could be that the analystsare reflecting the predictability of Bharti Airtel's earnings by assigning a price premium. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Bharti Airtel at ₹1,400 per share, while the most bearish prices it at ₹971. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We can infer from the latest estimates that forecasts expect a continuation of Bharti Airtel'shistorical trends, as the 12% annualised revenue growth to the end of 2025 is roughly in line with the 14% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 5.8% annually. So although Bharti Airtel is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have forecasts for Bharti Airtel going out to 2026, and you can see them free on our platform here.

We don't want to rain on the parade too much, but we did also find 3 warning signs for Bharti Airtel (1 is a bit concerning!) that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.