Monday, May 3, 2010

Vivo First-Quarter Profit Rises 44% on Mobile Market

May 3 (Bloomberg) -- Vivo Participacoes SA said first- quarter profit rose 44 percent as it strengthened its position as the largest company in Brazil’s expanding mobile-phone market.

Net income rose to 191.9 million reais ($110 million) from 133 million reais in the same period a year earlier, Sao Paulo- based Vivo said today in a regulatory filing. The result missed the 244 million-real mean estimate for adjusted net income of five analysts surveyed by Bloomberg.

Brazilians had 179.1 million mobile phones by the end of March, a 3 percent increase from the 174 million at the end of December, according to data from Anatel, the National Telecommunications Agency. Vivo retained a 30 percent share of the market and America Movil SAB’s Claro, the second-largest wireless provider, had 25 percent, according to Anatel.

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