Telefonica Brasil posts $210 million profit

Telecom Telefonica Brasil on Tuesday reported a net income of 1.2 billion reais ($213.37 million), lifted by a significant rise in optic network broadband internet clients, the company said in a securities filing.

Profits were 26% higher than a year ago, the company said, amid the coronavirus pandemic shift to working from home. A subsidiary of Spain’s Telefonica SA, the company said it had achieved its highest market share in Brazil in 14 years during the quarter.