The COVID-19 pandemic has posed challenges for business entities, including those operating in the telecommunications sector, potentially affecting their financial performance. Telecommunications businesses that demonstrate rapid adaptability and high innovation capabilities in adverse conditions amid the COVID-19 pandemic are more likely to survive in such difficult situations. This capability is a strong asset to achieve business sustainability in the post-COVID-19 era. This study aims to conduct a comparative analysis of the financial performance of telecommunications companies before and during the COVID-19 pandemic. The analysis of this study used the Multivariate Analysis of Variance (MANOVA) method. The results showed that there was no significant difference in the financial performance of telecommunications companies simultaneously based on financial ratios between the period before and during the COVID-19 pandemic.