Telefonica Brasil profit falls less than expected
SAO PAULO Feb 26 (Reuters) - Brazilian phone company Telefonica Brasil SA said on Wednesday that fourth-quarter net income fell 17 percent from a year earlier to 1.231 billion reais ($527 million), according to a securities filing.
Profit at the Brazilian unit of Spain's Telefonica beat an average estimate of 1.11 billion reais in a Reuters survey of analysts.
Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, fell 26 percent to 2.871 billion reais, above an average forecast of 2.63 billion reais.
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