Telefônica reports US$751mn Q3 profit, up 6.6%

- Thursday, November 10, 2011

Telefônica reports US$751mn Q3 profit, up 6.6%

Brazilian telephone carrier Telefônica on Thursday posted third quarter net profits of 1.33bn reais (US$751mn), up 6.6% on the same period last year.

Telefônica, the Brazilian unit of Spanish telecom giant Telefónica (NYSE: TEF), recently incorporated Vivo, the largest mobile phone operator in Brazil.

Ebitda fell 0.8% in the same comparison to 2.82bn reais, while Ebitda margin dropped to 34.2% from 36%.

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Quarterly net revenue was up 4.5% on the year, to 8.26bn reais.

The company had 82.4mn phones in operation at the end of September, including 67mn mobile handsets and 15.3mn fixed lines.

By Luana Pavani