Vivo Q2 profits up 29%, revenues climb 10%

29 Jul 2010

Brazil’s leading mobile operator by subscribers, Vivo Participacoes, yesterday reported second-quarter net profits of BRL236 million (USD133 million) for the three months ending 30 June 2010, up 29% from BRL181.7 million in the corresponding period of 2009. Second-quarter net revenues rose 10% year-on-year to BRL4.40 billion from BRL4.01 billion, while earnings before interest, taxes, depreciation and amortisation (EBITDA) reached BRL1.34 billion, up from BRL1.21 billion a year ago. The EBITDA margin, a key indicator of profitability, was 30.5% in 2Q10, up marginally from 30.3% in the year-earlier period.