Telefonica Brasil Reports 6.6% Rise In Q3 Profit

Telefonica Brasil SA (NYSE: VIV) reported a 6.6% rise in its third-quarter net income.

Telefonica Brasil's quarterly net income rose to 1.33 billion reais ($749 million). However analysts were expecting a net income of 1.24 billion reais.

Telefonica Brasil's earnings before interest taxes, depreciation and amortization (EBITDA) dropped 0.8% to 2.82 billion reais, versus analysts' estimates of 2.99 billion reais.

Telefonica Brasil's shares closed at $27.99 yesterday.