February 12, 2020 / 12:36 AM / 17 days ago

Brazil's wireless carrier TIM beats estimates on higher customer spending

SAO PAULO, Feb 11 (Reuters) - Brazilian wireless carrier TIM Participações SA posted better-than-expected quarterly net income, helped by higher average spending by customers.

The company posted 756 million reais ($174.52 million) net income in the fourth quarter, beating an average analyst estimate of 599.4 million.

TIM's EBITDA was 2 billion reais, slightly below analysts estimate of 2.2 billion, but even so the highest ever quarterly EBITDA for the company. ($1 = 4.3318 reais) (Reporting by Tatiana Bautzer and Alberto Alerigi Jr.; Editing by Himani Sarkar)

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