February 3, 2017 / 10:07 AM / 7 months ago

Brazil's TIM net income drops 22 pct y/y in Q4

BRASILIA, Feb 3 (Reuters) - TIM Participações SA, Brazil's second largest wireless carrier, said its net income fell 22 percent in the fourth quarter from a year earlier due to more capital spending and financial expenses.

Still, its profit of 364 million reais ($117 million) beat a consensus estimate of 217 million reais compiled by Thomson Reuters.

EBITDA rose 4 percent from a year earlier to 1.568 billion reais, beating a consensus estimate of 1.401 billion reais.

$1 = 3.1235 reais Reporting by Gabriela Mello; Writing by Silvio Cascione; Editing by Adrian Croft

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