July 30, 2019 / 11:39 PM / 19 days ago

Brazilian telecom TIM Participacoes beats quarterly profit estimates

RIO DE JANEIRO, July 30 (Reuters) - Brazilian wireless carrier TIM Participacoes SA posted on Tuesday a 26% rise in second quarter net profit compared to the same period a year before when adjusted for one-off factors, beating market expectations.

In a securities filing, the local subsidiary of Telecom Italia SpA said its quarterly net income hit 423 million reais, above a consensus estimate of 354 million reais compiled by Refinitiv.

Reporting by Gram Slattery; Editing by Sandra Maler

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