Telefonica Brasil Posts Higher Q3 Profit

Brazilian company Telefonica Brasil

reported a 35% rise in its third-quarter net profit. Telefonica Brasil's quarterly net profit surged to 1.022 billion reais ($400 million), versus analysts' estimates of 932 million reais. Its net revenue rose 1.2% to BRL8.7 billion. The company's revenue from mobile-phone services climbed 3.5% to BRL5.63 billion, while revenue from fixed lines shrank 3.2% to BRL2.79 billion. Data ARPU rose 16.2% y/y in the period. Its earnings before interest, tax, depreciation and amortisation, gained 7% to 2.548 billion reais, while EBITDA margin shrank to 29.5% from 30.3%. Its operating costs slipped 1% to BRL6.17 billion. At the end of the quarter, Telefonica Brasil had 95.4 million customers, compared to 91.7 million in the year-earlier period. Telefonica Brasil shares fell 0.31% to close at $19.18 yesterday.