May 8, 2019 / 12:32 AM / 12 days ago

Brazilian wireless carrier TIM misses quarterly profit estimates

SAO PAULO, May 7 (Reuters) - Brazilian wireless carrier TIM Participações SA reported on Tuesday that its first-quarter profit fell 10.4 percent year-on-year, missing analyst expectations.

In a securities filing, the local subsidiary of Telecom Italia SpA said its net income totaled 220 million reais ($55.42 million), below the consensus estimate of 360.4 million reais compiled by Refinitiv.

Earnings before interest, taxes, depreciation and amortization (EBIDTA) grew by 5.2 percent from a year ago to 1.5 billion reais in the first quarter. Analysts on average expected EBITDA of 1.53 billion reais, according to Refinitiv data.

The Brazilian telecoms provider posted a net revenue of 4.19 billion reais in the first quarter, up 1.7 percent year-on-year.

TIM shares closed up 0.35 percent on Tuesday at 11.47 reais.

$1 = 3.9669 reais $1 = 3.9700 reais Reporting by Gabriela Mello; Additional reporting by Jake Spring Editing by Leslie Adler

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