Telefonica Brasil hits quarterly profit forecasts

SAO PAULO: Telefonica Brasil SA , the country's largest telecommunications firm, met fourth-quarter profit forecasts on Wednesday as the company raised its reliance on higher-end mobile and data offerings.

In a securities filing, the Brazilian unit of Spain's Telefonica SA reported net income of 1.517 billion reais ($466 million).

That was slightly below a Reuters consensus estimate of 1.61 billion reais, though recurring net income - which the company said corrects for one-off expenses like regulatory provisions - came in at 1.63 billion reais.