Brazil's TIM posts 22 pct rise in quarterly profit

jueves 8 de mayo de 2014 17:52 GYT
 

SAO PAULO May 8 (Reuters) - TIM Participaçoes SA , Brazil's second-largest wireless phone company, on Thursday posted a 22 percent rise in first-quarter profit from a year earlier to 372 million reais($168 million), according to a securities filing.

Net income was slightly above an average forecast of 366 million reais in a Reuters poll of analysts.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, rose 8 percent to 1.317 billion reais, just above an average estimate of 1.299 billion reais.

($1 = 2.21 Brazilian reais) (Reporting by Brad Haynes)