- TIM Participações (NYSE:TSU) is 6.1% lower after Q4 earnings where revenue disappointed expectations after sliding more than 20%.
- Revenues came in at 4.12B reais (about $1.05B), short of an expected 4.33B reais by about 4.9%. EPS of 0.19 reais beat consensus for 0.12 reais.
- The company said it moved in 2015 to cover 411 cities with 4G, up from 45 in 2014, and 4G users reached more than 7M lines (about 11% of total). Smartphone penetration has hit 68% of its base, up from 2014's 49%.
- In Mobile Services, data services now make up 38% of net revenue (up from 31% the prior year).
- Capex for 2015 came to 4.7B reais (about $1.2B).
- Press Release