Telefônica Brasil, owner of VIVO (VIVT3), recorded a 7.3% increase in its net profit in the first quarter of 2024 compared to the same period in 2023, as shown in its balance sheet released this Tuesday.
In the quarter ended in March, the net profit of the telecommunications operator, controlled by the Spanish Telefónica, reached R$896 million.
Telefônica Brasil’s Ebitda (earnings before interest, taxes, depreciation and amortization) in the same period reached R$5.28 billion, representing growth of 6.8% compared to the previous year. However, analysts’ expectations were for an Ebitda of R$5.35 billion for the company.
Telefônica Brasil’s net operating revenue in the quarter increased by 6.5%, reaching R$13.55 billion. This growth was driven by the positive performance of the mobile services line, which accounts for the majority of the company’s revenue, recording a year-on-year increase of 9.3%.
Owner of VIVO (VIVT3)
Mobile net revenue, including revenue from devices and electronics, totaled R$9.58 billion in the three months ended in March, representing an increase of 8.7% compared to the previous year. The postpaid segment grew 11.4%, while the prepaid segment remained practically stable compared to the previous year.
Telefônica Brasil’s customer base reached 113 million accesses at the end of the first quarter, with mobile accesses representing the majority of them, totaling 100 million.
TCU
According to Valor Econômico, the company is seeking a consensual solution from the Federal Court of Auditors (TCU) that would allow it to resolve an arbitration case filed against the National Telecommunications Agency (Anatel) or make an initial investment based on the outcome of the arbitration. . This arbitration process, currently suspended, deals with the economic-financial balance and sustainability of the company’s fixed-line telephone concession in the State of São Paulo.
The company
The company is a leading telecommunications company in the Brazilian market. It is part of the Spanish group Telefónica and operates mainly in the fixed and mobile telephony, broadband internet, pay TV and digital services sector.
Vivo offers a wide range of services to residential and corporate customers across the country, including mobile telephony, mobile internet, fixed telephony, broadband internet, pay TV and digital solutions. The company has a significant presence in several regions of Brazil and is constantly expanding its infrastructure and services to meet growing consumer demands.
