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TIM Brasil beats second-quarter profit forecasts
July 31, 2013 / 12:40 PM / 4 years ago

TIM Brasil beats second-quarter profit forecasts

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.

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