Telefonica Brasil SA Posts Lower Q1 Earnings; Misses Estimates (VIV)

Telefonica Brasil SA (VIV) reported its first quarter earnings before the opening bell on Friday, posting slightly higher revenues and much lower earnings compared to last year’s first quarter.

VIV’s Earnings in Brief

Telefonica Brasil reported first quarter revenues of 8.6 billion reals, up from last year’s Q1 revenues of 8.56 billion reals. Net earnings for the quarter came in at 660.8 million reals, down from 810.2 million reals reported for last year’s Q1. Analysts were expecting earnings of 746 million reals. According to Reuters, the company also warned that the World Cup, which is taking place in Brazil this summer, could end up dragging down earnings.

VIV’s Dividend

Telefonica Brasil did not mention any changes to its dividend in its first quarter earnings release. Currently, the company has an annualized dividend of $1.13.

Stock Performance

VIV stock was inactive in pre-market trading. YTD, the company’s stock is up 13.33%.

VIV Dividend Snapshot

As of Market Close on May 8, 2014

Click here to see the complete history of VIV dividends.