Business

Telefonica Brasil’s Q4 profit down 14.3% by taxes, depreciation costs

Brazil’s largest wireless carrier Telefonica Brasil SA reported on Wednesday R$1.274 billion ($293 million) Q4 net income, down 14.3% year-on-year, as taxes and depreciation costs overshadowed an improved operating performance. The subsidiary of Spain’s Telefónica SA, which in Brazil operates under the brand Vivo, said earnings before interest, taxes, depreciation and amortisation, a gauge of Vivo’s operating performance also known as EBITDA, rose by 22.8% in Q4 to R$4.967 billion.

Source: Reuters