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Telefonica Brasil reports USD461m profit in Q3  Join our daily free Newsletter

MENAFN - 06/11/2012

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(MENAFN) Telefonica Brasil reported a 30 percent decline in quarterly profit on weaker revenue growth and higher tax rate, Reuters reported.

The company said it made USD461 million net profit during the third quarter, down from a year earlier.

The company also reported a 2.1 percent increase in quarterly revenue year-on-year, as a sharp drop in fixed-line services nearly offset growth in its market-leading mobile unit.

The company also said it paid USD272.12 million in taxes during the quarter, which were much higher than USD27.51 million paid a year ago, hurting its earnings.

The weaker results of the Brazilian unit will affect Spanish parent Telefonica's overall earnings. Telefonica is Europe's most indebted phone company, with USD74.3 billion liability.

 






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