Telefonica Brasil profit nearly triples on tower sales, cost cuts
SAO PAULO, April 27 (Reuters) - Telefonica Brasil SA , the biggest telecommunications firm in the country, reported on Wednesday that first-quarter net income nearly tripled from a year earlier due to tower sales and cost-cutting after acquiring broadband provider GVT.
Profit rose to 1.218 billion reais ($346 million), beating an average forecast of 1.1 billion reais in a Reuters poll of analysts. Earnings before interest, taxes, depreciation and amortization rose 24 percent to 3.789 billion reais, beating an average estimate of 3.3 billion reais.
($1 = 3.52 Brazilian reais) (Reporting by Brad Haynes; Editing by Chris Reese)
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