Brazil's Telefonica quarterly profit rises 7%, but misses forecasts (updated)

Telefonica Brasil, SA

07/05/2024 23:19

(Adds details in paragraphs 3-7)
       SAO PAULO, May 7 (Reuters) - Brazilian
telecommunications operator Telefonica Brasil  VIVT3.SA  posted
on Tuesday a net profit below analysts' expectations, even
though it increased by 7.3% in the first quarter from a year
earlier. 
    The firm, which is controlled by Spain's Telefonica
 TEF.MC , posted an 896 million real ($176.5 million) net profit
for the quarter ended in March, while analysts polled by LSEG
expected a 1.03 billion real net profit.
    Its net operational revenue stood at 13.5 billion reais,
rising 6.5% as its main mobile services business grew 9.3%.
        Telefonica Brasil attributed the performance of its
mobile unit to a 11.4% jump in post-paid revenues, as the
company was able to expand its customer base and to increase its
prices in the segment, while maintaining a record-low churn
rate. 
  
        Earnings before interest, taxes, depreciation and
amortization (EBITDA) increased 6.8% in the quarter to 5.28
billion reais, slightly below analysts' forecast of 5.35 billion
reais. 
  
        EBITDA margin rose 0.1 percentage point year-on-year to
39%.
  

($1 = 5.0759 reais)

 (Reporting by Andre Romani; Editing by Steven Grattan and
Aurora Ellis)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))