SAO PAULO (Reuters) – Telefônica Brasil shares advanced on Wednesday, against the Ibovespa, after the telecommunications company reported growth in third-quarter profit to 1.4 billion reais, with a 15% expansion in net revenue of mobile telephony.
At 11:09, the shares of the company, which operates under the Vivo brand in Brazil, rose 1.54%, at 40.21 reais, while the Ibovespa fell 1.07%. At maximum, shares reached 40.67 reais (+2.7%).
“Vivo reported solid results in the third quarter of 2022 with a consistent margin recovery and a solid recovery in net income”, evaluated analysts at XP Investimentos, who also highlighted the “solid net revenue growth” and the performance of the Ebitda margin.
The Guide Investimentos team also evaluated that Telefônica Brasil showed better performance year-over-year in almost all of its aspects, delivering a deterioration only in services in which a decrease was already expected (non-core revenues).
“The company remains focused on optimizing its service portfolio and its customers, after the acquisition of Oi’s assets. We expect it to continue to deliver significant numbers and operational improvements in the coming periods, especially after the expansion of its fiber services.”
For analysts at BTG Pactual, who also praised Telefônica Brasil’s margin performance, among other balance sheet numbers, in addition to its resilient business model, strong balance sheet and solid cash flow generation, the company is also trading with a ‘ attractive valuation.
(By Paula Arend Laier)
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