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Posted on Feb 26, 12:54PM | IANS
Sao Paulo, Feb 26 : Telefonica Brazil, a unit of Spanish telecom giant Telefonica, said Monday it posted net income of $2.22 billion in 2012, up 2.1 percent from the previous year.
Profits totaled $737.15 billion in the fourth quarter of 2012, up 0.80 percent from the third quarter and 57.5 percent from the same period in 2011.
Revenues came in at nearly $16.97 billion last year, rising 2.3 percent from 2011.
Telefonica Brazil was created in the first half of 2011, when the Spanish company acquired control of wireless service provider Vivo.
Telefonica had previously shared control of the Brazilian wireless company with Portugal Telecom. Vivo was then merged with landline operator Telesp.
Telefonica Brazil ended 2012 with 91.1 million customers - 76.1 million wireless subscribers and 15 million landline, broadband broadband service and pay television customers - a figure that rose 4.9 percent, compared to the December 2011 level.
Telefonica is the leader in Brazil's wireless communications market.