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Telefonica Brasil profits fall 23% in Q2

Jul. 26, 2016 7:12 PM ETTelefônica Brasil S.A. (VIV) StockVIVBy: Jason Aycock, SA News Editor
  • Telefonica Brasil (NYSE:VIV) posted Q2 results where profits declined 23% but revenues came in ahead of expectations
  • Revenues of 10.51B reais rose 0.9%, but profits fell to 699.5M reais (about $214M), short of analyst expectations for 924M reais.
  • Total accesses fell 9.1% to 97.1M: 73.3M mobile (-11.3%), and 23.8M fixed line (-1.5%).
  • Postpaid subs grew 6.9% with a market share of 42.3% (up 0.7 percentage points from last year). Mobile ARPU rose 15.9%.
  • EBITDA of 3.2B reais was up 3.7% with an EBITDA margin of 30.5%.
  • Press Release

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