October 31, 2016 / 11:57 PM / 2 years ago

Brazil's TIM beats expectations with 184 mln real Q3 profit

SAO PAULO, Oct 31 (Reuters) - TIM Participaçoes SA , Brazil’s second-largest wireless carrier, on Monday posted a 49 percent drop in third-quarter net income from the same period a year ago but still beat market expectations.

Company profit fell to 184 million reais at the local unit of Telecom Italia SpA, according to a securities filing, beating a consensus estimate of 102.83 million reais by a Reuters poll of analysts.

Earnings before interest, tax, debt and amortization, a metric of profitability known as EBITDA, fell by 18 percent to 1.279 billion reais, above an average estimate of 1.227 billion reais for the quarter that ended in September. (Reporting by Ana Mano and Reese Ewing; Editing by Andrew Hay)

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