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Article: TIM's Uncertain Outlook - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- August 7, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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TIM's Uncertain Outlook - Analyst Blog
Earlier this week,
TIM Participacoes S.A.
(
TSU
), reported positive second quarter results despite the difficult global economic environment.
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Net revenues reached R$3,304 million (US$1,581 million), an increase of 3.7% year over year. The combined customer base (including pre-paid and post-paid) increased 34.9% year over year, reaching 37.8 million subscribers. The company’s market share was 23.7%, compared to 23.5% in the year-ago quarter. Operating expenses increased just 0.8% year over year to R$2,568 million (US$1,229 million).
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EBITDA reached R$736 million (US$352 million) in the quarter, up 15.5% year over year. ...