Earnings Update: Bharti Airtel Limited (NSE:BHARTIARTL) Just Reported Its First-Quarter Results And Analysts Are Updating Their Forecasts

Bharti Airtel Limited (NSE:BHARTIARTL) last week reported its latest quarterly results, which makes it a good time for investors to dive in and see if the business is performing in line with expectations. Revenues of ₹495b were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at ₹9.90, missing estimates by 3.1%. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

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After the latest results, the 31 analysts covering Bharti Airtel are now predicting revenues of ₹2.05t in 2026. If met, this would reflect a notable 12% improvement in revenue compared to the last 12 months. Statutory earnings per share are forecast to decline 17% to ₹48.26 in the same period. In the lead-up to this report, the analysts had been modelling revenues of ₹2.08t and earnings per share (EPS) of ₹51.31 in 2026. The analysts seem to have become a little more negative on the business after the latest results, given the minor downgrade to their earnings per share numbers for next year.

See our latest analysis for Bharti Airtel

It might be a surprise to learn that the consensus price target was broadly unchanged at ₹2,068, with the analysts clearly implying that the forecast decline in earnings is not expected to have much of an impact on valuation. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values Bharti Airtel at ₹2,498 per share, while the most bearish prices it at ₹1,324. 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.

Of course, another way to look at these forecasts is to place them into context against the industry itself. It's clear from the latest estimates that Bharti Airtel's rate of growth is expected to accelerate meaningfully, with the forecast 16% annualised revenue growth to the end of 2026 noticeably faster than its historical growth of 13% p.a. over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 5.2% annually. Factoring in the forecast acceleration in revenue, it's pretty clear that Bharti Airtel is expected to grow much faster than its industry.

The Bottom Line

The most important thing to take away is that the analysts downgraded their earnings per share estimates, showing that there has been a clear decline in sentiment following these results. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. The consensus price target held steady at ₹2,068, with the latest estimates not enough to have an impact on their price targets.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Bharti Airtel going out to 2028, and you can see them free on our platform here.

Plus, you should also learn about the 2 warning signs we've spotted with Bharti Airtel .

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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.