Reuters logo
Brazil's TIM posts 3 pct rise in quarterly profit
April 28, 2017 / 10:30 AM / 8 months ago

Brazil's TIM posts 3 pct rise in quarterly profit

SAO PAULO, April 28 (Reuters) - TIM Participaçoes SA , Brazil’s second-largest wireless phone company, posted first-quarter net income of 132 million reais ($41.46 million), up 3.3 percent from a year earlier, according to a securities filing on Friday.

Profit at the Brazilian unit of Telecom Italia was near an average estimate of 134 million reais in a Thomson Reuters survey of analysts.

Net services revenue rose 3.5 percent as TIM continued to focus on higher value postpaid customers after a punishing two-year recession that has eroded Brazilians’ purchasing power.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, rose 8.7 percent to 1.263 billion reais, above an average estimate of 1.244 billion reais.

EBITDA as a share of revenue rose to 32.0 percent from 30.2 percent a year earlier. ($1 = 3.1836 reais) (Reporting by Silvio Cascione; Writing by Brad Haynes; editing by Susan Thomas)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below