Telefonica Brasil, S.ANYSE
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  • Thu, Nov. 10, 9:17 AM
    | Thu, Nov. 10, 9:17 AM
  • Wed, Oct. 26, 2:35 PM
    • Telefonica Brasil (NYSE:VIV) is up 2.4% in U.S. trading today after its Q3 earnings showed signs of light for recession-plagued Brazil.
    • And exiting CEO Amos Genish -- he's being replaced by Eduardo Navarro, set to take over sooner than a planned Jan. 1 start -- said the worst was in the rear-view mirror. He said yesterday that the company, which does business as Vivo, would be the highlight of global Telefonica's results, due tomorrow.
    • J.P. Morgan is sticking with an Overweight rating and a December 2017 price target of 54 reais (implying about 21% upside), noting "(1) strong positioning among Brazilian telcos, given GVT’s strong fixed line execution and Vivo’s superior mobile growth; (2) returns are poised to increase as the market gets more rational in terms of pricing; (3) good outlook on a consolidated basis, with revenues growing 4.8% pa, EBITDA 6.7% pa, EBT 11.2% pa, and earnings 12.7% pa for the 2016-19E period; (4) potential to improve positioning as competitors are reducing investments; (5) turnaround opportunities in São Paulo wireline using GVT expertise."
    • Shares are up 3.3% in São Paulo.
    | Wed, Oct. 26, 2:35 PM
  • Tue, Oct. 25, 10:50 PM
    • Telefonica Brasil (NYSE:VIV): Q3 net income of R$952.7M
    • Revenue of R$3.41B (+21.4% Y/Y) beats by R$100M.
    • Press Release
    | Tue, Oct. 25, 10:50 PM
  • Tue, Oct. 25, 8:09 PM
    • Telefonica Brasil (NYSE:VIV) posted Q3 earnings that rose by 9.6% but missed expectations slightly with hints of an economic recovery in the beleaguered country.
    • Brazil's top telecom earned 953M real (about $306M) for the quarter and has boosted free cash flow by 43% over the nine months.
    • Average revenue per user rose 15%.
    • Meanwhile, in an economic bellwether, sales of prepaid wireless rose for the first time in two years.
    • CEO Amos Genish said Vivo's success in grabbing synergies from an acquisition of broadband firm GVT would make it the highlight of earnings for the global Telefonica (NYSE:TEF), reporting Thursday.
    • After hours: VIV +0.3%; TEF +0.2%.
    | Tue, Oct. 25, 8:09 PM | 1 Comment
  • Tue, Oct. 18, 12:59 PM
    • Telefónica Brasil (VIV +1.8%) is planning to diversify to build a broader base of revenue as well as cut costs and optimize investments in 4G and even 5G networks, its CEO says.
    • Speaking at a São Paulo event, CEO Amos Genish says the company will focus on high-growth areas such as cloud computing.
    • In a move in the works for months, Genish is transitioning out of the chief executive role, to be replaced by Eduardo Navarro de Carvalho on Jan. 1.
    | Tue, Oct. 18, 12:59 PM
  • Mon, Oct. 10, 10:55 AM
    • Eduardo Navarro de Carvalho is taking over as chief executive officer at Telefonica Brasil (VIV -6.2%), replacing Amos Genish, in the first major executive move since Jose Maria Alvarez-Pallete took over as Telefonica chairman (TEF +1.4%).
    • The move was apparently in the works for months, but announced earlier due to leaks from a journalist prodding about the transition.
    • Navarro is already chairman and chief commercial digital officer at Telefonica Brasil. He'll work with Genish on a transition set to complete Jan. 1.
    • Genish is leaving for personal reasons and says he won't work for another telecom "at least for a few good years."
    • Analysts at Bradesco BBI downgraded shares of the stock to Neutral: “One of the main pillars of Telefonica Brasil’s investment thesis, top-notch management, has weakened with Amos’ resignation, increasing execution risk for synergy gains and ongoing market share gain."
    | Mon, Oct. 10, 10:55 AM
  • Wed, Sep. 28, 1:42 PM
    • A case between Telefonica Brasil (VIV -0.9%) and a former senior executive is headed to court for a hearing Thursday.
    • Former exec Cristina Duclos, who led image and communications at the Vivo wireless unit before leaving in June, is meeting with company representatives in the 33rd Labor Court of Sao Paulo in case they can reach an out-of-court settlement.
    • She says the company planted news that she worked with ad agencies to permit excessive price differences in ad contracts, a breach of internal guidelines. She's seeking a chance to prove her innocence, and to be reinstated in order to do that.
    • Her reinstatement "will lead the company to explain whether such an investigation" of her conduct existed, she says.
    • Vivo spends about 1B reais (about $309M) per year on marketing and advertising.
    | Wed, Sep. 28, 1:42 PM
  • Tue, Jul. 26, 7:12 PM
    • 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
    | Tue, Jul. 26, 7:12 PM
  • Tue, Jul. 26, 6:05 PM
    • Telefonica Brasil (NYSE:VIV): Q2 net income of R$699.5M
    • Revenue of R$10.51B (+0.9% Y/Y)
    • Press Release
    | Tue, Jul. 26, 6:05 PM
  • Mon, Jul. 25, 7:33 PM
    • In a Brazil threatened by an environment of business scandals, Telefonica Brasil (VIV -2.3%) is probing its own marketing division to see whether contracting practices led to excessive price discrepancies, Valor Econômico reports.
    • The company spends 1.3B reais (about $395M) annually on marketing and advertising and has already begun a restructuring of the unit's leadership, the paper says. Former chief Cristina Duclos has been dismissed and the company is looking for a new marketing executive.
    • The probe examined contracts with some of Brazil's biggest ad agencies, including DPZ&T, Young & Rubicam (NASDAQ:WPPGY) and Africa (NYSE:OMC), and ended up retaining them.
    | Mon, Jul. 25, 7:33 PM
  • Wed, Jul. 6, 5:44 PM
    • Digital revenues are going to outpace overall sales, Telefonica Brasil (VIV -1.9%) says, as it shifts its mix toward video streaming and cloud storage and away from legacy voice connections.
    • Such digital sales already made up 1.9B reais (about $569.2M) last year, some 5% of net revenue, after growing 15% Y/Y. Meanwhile, voice revenue is on pace to shrink from about half now to a quarter of sales within five years, says the digital division's VP Ricardo Sanfelice.
    • Overall revenues grow at about 5%, and Sanfelice says he sees no reason digital won't continue to grow at its same pace.
    • The company last week announced a specific division to build digital services, including cloud storage and streaming service.
    | Wed, Jul. 6, 5:44 PM | 1 Comment
  • Fri, May 13, 7:48 PM
    • Recently under new leadership, Telecom Italia (TI -0.3%) says it's tripling its target for cost cuts, to save €1.6B (about $1.8B) by 2018.
    • That will be evenly divided between operating cuts and capital expenditures, the company said in a late Friday earnings filing.
    • EBITDA fell 16% to €1.71B, short of consensus for €1.81B, and revenues fell 12% to €4.4B, short of expectations for €4.48B in sales.
    • CEO Flavio Cattaneo -- who took over in March for Marco Patuano, who clashed with the growing ownership of top shareholder Vivendi (OTCPK:VIVHY -1.5%) -- is pushing to increase profitability at the Italian incumbent carrier, as well as resolve the company's challenges in Brazil.
    • TIM Participaçoes (TSU -4.7%), its unit in Brazil, saw revenues decline nearly 16% this quarter amid the country's deep recession and hot competition against Telefonica Brasil (VIV -2.5%). Stefano De Angelis is taking over as TIM's CEO from Rodrigo Abreu.
    • Patuano was reportedly inclined to want to hold on to the TIM unit, while Vivendi has actively pushed for a sale.
    • After hours: TI +0.3%; TSU -0.2%.
    • Now read Is The Deal With Vivendi A Positive Sign For Mediaset? »
    | Fri, May 13, 7:48 PM
  • Thu, Apr. 28, 12:40 AM
    • Telefonica Brasil (NYSE:VIV): Q1 Net income of R$1.22B
    • Revenue of R$10.43B (+0.6% Y/Y).
    | Thu, Apr. 28, 12:40 AM
  • Wed, Apr. 27, 7:44 PM
    • Telefonica Brasil (VIV +1.2%) posted Q1 profits that nearly tripled as the company cut operating costs by 9%, and sold off towers.
    • Net operating revenues rose just 0.6%, to 10.431B reais ($2.96B), but net income rose 179% to 1.218B reais ($345.6M).
    • EBITDA of 3.79B reais ($1.075B) was up 23.8%.
    • Customer accesses fell to 97.22M (down 8.1%), with mobile accesses down 10.5% to 73.27M and fixed accesses up 0.3% to 23.95M. Of fixed, broadband access hit 7.2M while fiber connections hit 54.2% of its base.
    • Pay TV access were 1.8M (up 4.9%) with strength in premium accesses.
    | Wed, Apr. 27, 7:44 PM
  • Thu, Apr. 21, 10:57 AM
    • Vivendi (OTCPK:VIVHY -2%) is actively pushing Telecom Italia (TI -0.1%) toward a sale of its Brazilian unit, TIM Participaçoes (TSU +1.8%), sources tell CTFN.
    • The French media giant's stance on TIM was a clear catalyst for the March departure of Marco Patuano as TI's chief executive, as Patuano was inclined to hold on to the business.
    • A series of machinations over the past year took place around the possible merger of TIM with debt-laden carrier Oi (OIBR -3.5%) before the prospects of a deal imploded.
    • An M&A lawyer said that when Vivendi inherited its Telecom Italia stake in 2014 (via its sale of broadband company GVT to Telefonica), it was already expressing an interest in getting out of Brazil and taking charge of TI as a media platform.
    • Rivals Telefonica Brasil (VIV -0.2%) and Claro (AMX +1.5%) aren't likely candidates to take over TIM due to regulatory issues. Oi is surely a candidate again, but more desperate for a move than TIM. Brazil might go for a bid from someone like Vodafone (VOD -0.8%), though.
    • Now read Oi's Debt Restructuring: A 4-Player Chess Game »
    | Thu, Apr. 21, 10:57 AM | 4 Comments
  • Fri, Apr. 15, 5:36 PM
    • Top gainers, as of 5.25 p.m.: VIV +11.8%. GOV +2.7%. CARA +1.9%. XNPT +1.6%.
    • Top losers, as of 5.25p.m.: MGA -11.1%. WTI -3.2%. FOXF -1.8%. HMY -1.8%
    | Fri, Apr. 15, 5:36 PM