Brazil's TIM Participacoes beats quarterly profit estimates
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Brazil's TIM Participacoes beats quarterly profit estimates
SAO PAULO, Feb 5 (Reuters) – TIM Participações SA , Brazil’s third-largest wireless carrier, on Monday reported fourth-quarter net income of 604 million reais ($185 million), up 66 percent from a year earlier, as customers continued to shift to pricier plans in a recovering economy.
Profit at TIM, a subsidiary of Telecom Italia SpA, beat a Thomson Reuters consensus estimate of 462 million reais. Earnings before interest, tax, depreciation and amortization rose 13 percent to 1.769 billion reais, above a consensus estimate of 1.69 billion reais.
$1 = 3.26 reais Reporting by Gram Slattery
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