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Telefonica Brasil books 13 pct rise in recurring profit
May 9, 2017 / 9:24 PM / 6 months ago

Telefonica Brasil books 13 pct rise in recurring profit

SAO PAULO, May 9 (Reuters) - Telefonica Brasil SA reported a 13 percent rise in recurring net income on Tuesday, citing rigorous cost controls and accelerating demand for mobile and data services despite a sluggish economic recovery.

Excluding one-time revenue from tower sales a year earlier, profit at the Brazilian division of Spain’s Telefonica SA rose in the first quarter to 996 million reais ($313 million), according to a securities filing. Including last year’s tower sales, net income fell 18 percent. (Reporting by Brad Haynes; Editing by Dan Grebler)

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