Brazilian Telecom TIM Participacoes Beats Quarterly Profit Estimates

Brazilian wireless carrier TIM Participacoes SA posted on Tuesday a 26% rise in second quarter net profit compared to the same period a year before when adjusted for one-off factors, beating market expectations.

In a securities filing, the local subsidiary of Telecom Italia SpA said its quarterly net income hit 423 million reais, above a consensus estimate of 354 million reais compiled by Refinitiv.―Yahoo Finance