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SAO PAULO, Feb 11 (Reuters) - Brazilian wireless carrier TIM Participações SA reported a better-than-expected quarterly net income, helped by higher average spending by customers.
The company posted net income of 756 million reais ($174.52 million) in the fourth quarter, beating an average analyst estimate of 599.4 million reais, according to Refinitiv.
Net revenue rose 2.9% over the same period last year, as the company sold more of higher-value services such as high-speed internet connections and increased average monthly spending per prepaid mobile customer.
TIM, a subsidiary of Telecom Italia SpA, reduced costs by 0.7% in the fourth quarter over a year earlier, as the company reduced sales costs by streamlining processes and cutting marketing expenses.
TIM’s Q4 EBITDA (earnings before interest, tax, depreciation and amortisation) was 2 billion reais, slightly below analysts’ average estimate of 2.2 billion, but still the highest ever quarterly EBITDA for the company. ($1 = 4.3318 reais) (Reporting by Tatiana Bautzer and Alberto Alerigi Jr.; Editing by Himani Sarkar and Muralikumar Anantharaman)