Brazil's Telefonica posts 9% increase in second-quarter net profit (updated)

Telefonica Brasil, SA

29/07/2024 23:09

(Adds context about Telefonica in paragraph 4, details of the
results in paragraphs 6-7)
       SAO PAULO, July 29 (Reuters) - Brazil's Telefonica
reported on Monday an 8.9% increase in its second-quarter net
profit to reach 1.22 billion reais ($217 million) for the
period, compared to the same quarter last year.
    Analysts polled by LSEG expected a quarterly profit of 1.33
billion reais.
    
    WHY IT'S IMPORTANT
    The firm, which is controlled by Spain's Telefonica
 TEF.MC , is the largest provider of mobile phone service in
Brazil based on the number of total accesses, according to data
from local telecom regulator Anatel. 
    
    BY THE NUMBERS 
    Telefonica Brasil's net operational revenue rose 7.4% in the
quarter from a year earlier, to 13.7 billion reais, with the
revenue of its main mobile unit increasing by 8.8%, boosted by
post-paid operations.
    Earnings before interest, taxes, depreciation and
amortization (EBITDA) stood at 5.46 billion reais, up 7.3% from
a year earlier. Analysts polled by LSEG expected a 5.5 billion
reais EBITDA for the period.

    ($1 = 5.6150 reais)

 (Reporting by Andre Romani; Editing by Stephen Coates)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))