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

Reuters
·1 min read
FILE PHOTO: People walk past a building displaying the logo of Spanish telecom company Telefonica

SAO PAULO (Reuters) - Brazilian telecommunications operator Telefonica Brasil 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, 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)

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • Under Armour is collapsing — And Kevin Plank has to take the blame

    The Under Armour meltdown continues.

  • Here’s Why I Wouldn’t Touch This TSX Stock With a 50-Foot Pole

    This TSX stock has seen shares rise higher, with demand for oil increasing, and yet the company could be in a world of hurt from one factor. The post Here’s Why I Wouldn’t Touch This TSX Stock With a 50-Foot Pole appeared first on The Motley Fool Canada.

  • TFSA: 3 Canadian Stocks to Hold for a Lifetime

    The TFSA is the perfect place to compound wealth. Here are 3 top Canadian stocks to hold for a lifetime. The post TFSA: 3 Canadian Stocks to Hold for a Lifetime appeared first on The Motley Fool Canada.

  • Russian court seizes millions of euros worth of German bank assets

    A Russian court has ordered that Deutsche Bank's and Commerzbank's assets, accounts, property and shares be seized in Russia as part of a lawsuit involving the German banks, court documents showed. The banks were among the guarantor lenders under a contract for the construction of a gas processing plant in Russia with Germany's Linde, which was terminated due to Western sanctions.The lawsuits were filed by St Petersburg-based RusChemAlliance, a joint venture 50% owned by Russian gas giant Gazpro

  • 2 No-Brainer Energy Stocks to Buy Right Now for Less Than $500

    Here are two rallying Canadian energy stocks you can buy today with attractive dividend yields and growth potential. The post 2 No-Brainer Energy Stocks to Buy Right Now for Less Than $500 appeared first on The Motley Fool Canada.

  • Invest $10,000 in This Dividend Stock for $1,500.50 in Passive Income

    If you have $10,000 to invest, then you likely want a core asset you can set and forget. Which is why this investment is the best for passive income. The post Invest $10,000 in This Dividend Stock for $1,500.50 in Passive Income appeared first on The Motley Fool Canada.

  • 2 Dividend Stocks to Double Up on Right Now

    These two dividend stocks have long proven to be clear winners in the industry, with shares climbing and supporting long-term dividend growth. The post 2 Dividend Stocks to Double Up on Right Now appeared first on The Motley Fool Canada.

  • The Magnificent 7 companies are worth a combined $14 trillion — here's how much their CEOs make

    Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta and Tesla are worth $14 trillion — and their CEOs are paid handsomely.

  • I’m an Average Middle-Class Retiree: Here’s How Much Savings I Have

    Though your pre-retirement income alone isn't enough to determine whether you'll retire comfortably, it certainly plays a role. For example, if you're earning a middle-class salary, the amount you can...

  • Economists to have a close eye on April inflation report as BoC rate decision nears

    OTTAWA — Forecasters expect this week's inflation report to show Canada's inflation rate fell last month, but financial markets are still unsure whether a June interest rate cut is in the cards for the Bank of Canada. Statistics Canada is set to release its April consumer price index report Tuesday. The new inflation data will be consequential for the Bank of Canada as it gears up for its June 5 interest rate decision. BMO chief economist Douglas Porter says he expects the annual inflation rate

  • Five things to watch for in the Canadian business world in the coming week

    TORONTO — Five things to watch for in the Canadian business world in the coming week: Inflation Statistics Canada will release its consumer price index for April on Tuesday. The reading comes after the annual inflation rate ticked up to 2.9 per cent in March compared with 2.8 per cent in February. The April reading on how fast the cost of living is rising will be closely watched by the Bank of Canada ahead of its interest rate decision on June 5. Suncor presentation Suncor Energy Inc. will hold

  • 1 Passive-Income Stream and 1 Dividend Stock for $781.48 in Monthly Cash

    Looking for passive income? Don't take out a loan with that high interest involved. Instead, consider this method for years to come. The post 1 Passive-Income Stream and 1 Dividend Stock for $781.48 in Monthly Cash appeared first on The Motley Fool Canada.

  • Why Shares of Cameco Are Powering Higher

    Cameco (TSX:CCO) shares have surged more than 400% in the last five years alone, with more growth on the way. The post Why Shares of Cameco Are Powering Higher appeared first on The Motley Fool Canada.

  • 3 TSX Stocks Quietly Crushing the S&P 500

    Brookfield Corp (TSX:BN) stock outperformed the S&P 500 over the last five years. The post 3 TSX Stocks Quietly Crushing the S&P 500 appeared first on The Motley Fool Canada.

  • 1 Growth Stock With Legit Potential to Outperform the Market

    Identifying the stocks that have outperformed the market (in the past) is relatively easy, but selecting the ones that will continue with this trend can be a bit challenging. The post 1 Growth Stock With Legit Potential to Outperform the Market appeared first on The Motley Fool Canada.

  • Brookfield Infrastructure Is Up 9% After Earnings: What Investors Need to Know

    A large-cap stock with a low-risk and strong revenue profile is an investment opportunity for income, growth, or both. The post Brookfield Infrastructure Is Up 9% After Earnings: What Investors Need to Know appeared first on The Motley Fool Canada.

  • 3 Stocks to Buy Now That Could Help You Retire a Millionaire

    Are you looking to retire rich? Here are three winning stocks that can help you get there. The post 3 Stocks to Buy Now That Could Help You Retire a Millionaire appeared first on The Motley Fool Canada.

  • 9 Things You Must Do When Your Retirement Savings Reaches $250,000

    You've worked hard, put money aside for retirement, and have a nest egg of $250,000 in your portfolio. Now it's time to protect and grow your savings so you can achieve financial freedom during...

  • Troubled EV maker Fisker closing Manhattan Beach headquarters

    Troubled EV maker Fisker Inc. is closing down its Manhattan Beach headquarters and moving employees to La Palma in Orange County in a bid to save money and stave off bankruptcy.

  • Here’s How Much You Would Have If You Invested $1,000 in Walmart’s IPO

    Business is booming for Walmart. With food at home prices shooting up 24.6% since the pandemic started in March 2020, American families have turned to more budget-friendly options to...