February 12, 2020 / 1:11 AM / 5 days ago

UPDATE 1-Brazil wireless carrier TIM beats estimates on higher customer spending

(Adds details on revenue, expenses)

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

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

Net revenue rose 2.9% over the same period last year, as the company sold more of higher-value services such as high-speed internet connections and increased average monthly spending per prepaid mobile customer.

TIM, a subsidiary of Telecom Italia SpA, reduced costs by 0.7% in the fourth quarter over a year earlier, as the company reduced sales costs by streamlining processes and cutting marketing expenses.

TIM's Q4 EBITDA (earnings before interest, tax, depreciation and amortisation) was 2 billion reais, slightly below analysts' average estimate of 2.2 billion, but still the highest ever quarterly EBITDA for the company. ($1 = 4.3318 reais) (Reporting by Tatiana Bautzer and Alberto Alerigi Jr.; Editing by Himani Sarkar and Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below