SAO PAULO May 8 Telefonica Brasil SA
said on Thursday that first-quarter net income fell 18 percent
from a year earlier to 661 million reais ($297 million),
according to a securities filing.
Profit missed an average forecast of 746 million reais in a
Reuters survey of analysts.
Earnings before interest, taxes, depreciation and
amortization, a gauge of operating profit known as EBITDA, fell
7 percent to 2.563 billion reais, below an average estimate of
2.594 billion reais.
($1 = 2.23 Brazilian reais)
(Reporting by Brad Haynes)