TIM Q3 revenues boosted by Brazil

Telecom Italia Group (TIM Group) has reported revenues of EUR3.97 billion (USD3.99 billion) for the three months to 30 September 2022, up 1.1% on an organic basis. While domestic sales dropped 5.3% to EUR2.92 billion, turnover in Brazil jumped 24.4% to EUR1.06 billion thanks to the integration of assets formerly owned by Oi. Group EBITDA fell 6.5% on an organic basis to EUR1.59 billion, while net income fell from a profit of EUR139 million in Q3 2021 to a loss of EUR2.25 billion in Q3 2022 due to a write-off of deferred tax assets.