3.8 C
New York
Monday, November 29, 2021
More

    Latest Posts

    Vivo profits more in the 3rd quarter, with controlled costs and a higher mobile base

    The telecommunications company announced this Wednesday that it had net income of 1.315 billion reais in the period (Image: REUTERS/Nacho Doce)

    A Telefonica Brasil (VIVT4) profited above market expectations in the third quarter as it continued to expand its mobile phone base and kept costs under control.

    The telecommunications company announced this Wednesday that it had net income of 1.315 billion reais in the period, up 8.5% compared to the same stage in 2020 and above the average forecast of analysts consulted by Refinitiv, of 1.16 billion reais.

    The operating result measured by profit before taxes, fees, recurring depreciation and amortization (Ebitda) totaled 4.41 billion reais from July to September, up 2.1% year on year and almost in line with analysts’ forecast of 4.44 billion reais.

    The recurring Ebitda margin was stable at 40%.

    On the one hand, Telefônica Brasil saw its mobile access base rise 7.2% in 12 months, to 82.25 million. Even so, it lost 0.6 percentage point of market share, at 33%.

    In addition to the base growth, the company readjusted the control plans and part of the postpaid plans. With that, the net revenue advanced 2.2%, to 11 billion reais, even with the base of fixed accesses falling 10.8%, to 15.17 million.

    At the other end, recurring costs rose only 2.3%, to 6.62 billion reais, with the company stating that the greater digitization neutralized the effects of inflation in the period.

    The company recently announced a non-binding agreement to form an equal-share joint venture with the education group. Ânima, focusing on creating a platform for digital courses.

    see the table below:

    spot_img

    Latest Posts

    spot_img

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.