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SAO PAULO (Reuters) - Telefonica's Brazil unit on Tuesday reported a 10.1% increase in net profit for the fourth quarter from a year earlier, landing at 1.76 billion reais ($306.6 million), in line with the 1.7 billion expected by analysts polled by LSEG.
Telefonica Brasil announced in a separate filing a share buyback program of up to 1.75 billion reais, set to be carried out until February 25, 2026.
WHY IT'S IMPORTANT
The firm, which is controlled by Spain's Telefonica, is the largest mobile-phone service provider in Brazil by total phone lines, according to local telecom regulator Anatel. BY THE NUMBERS The company's net operational revenue rose 7.7% from a year earlier to 14.6 billion reais in the quarter ended in December. Its earnings before interest, taxes, depreciation and amortization (EBITDA) came in at 6.2 billion reais, up 7.8% from the fourth quarter of 2023. KEY QUOTES
"For the years 2024 to 2026, the company intends to distribute to its shareholders an amount equal to or greater than 100% of the net profit for each financial year," Telefonica Brasil said in the report.
($1 = 5.7396 reais)
(Reporting by Isabel Teles; Editing by Kylie Madry and Natalia Siniawski)