Telefonica Brasil's Q2 profit drops 21.6% but still exceeds expectations
SAO PAULO, July 29 (Reuters) - Telefonica Brasil SA VIVT4.SA on Wednesday reported a 21.6% drop in second-quarter net income, but still hit market expectations as lower financial expenses slightly compensated smaller revenues amid the coronavirus pandemic.
In a securities filing, Brazil's largest wireless carrier said its net profit hit 1.113 billion reais in the quarter to June 30, above a consensus estimate of 1.008 billion reais compiled by Refinitiv.
(Reporting by Gabriela Mello, editing by Louise Heavens)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.