TIM Brasil beats second-quarter profit forecasts
SAO PAULO, July 31
SAO PAULO, July 31 (Reuters) - TIM Participaçoes SA , Brazil's second-largest wireless phone company, posted a 12 percent rise in second-quarter net income from a year earlier to 386 million reais ($170 million), according to a late Monday securities filing.
Profit at the Brazilian affiliate of Telecom Italia beat an average estimate of 337 million reais in a Reuters survey of five analysts.
Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, rose 2 percent to 1.232 billion reais, just below an average forecast of 1.246 billion reais.