News Telefonica Brasil S.A. ADRVIV. Significant News Only. 08/22/17; Press Release. Initiating Research Reports on Wireless Communications Equities -- NII Holdings, Vodafone, xG Technology, and Telefonica Brasil.
Brazilian telecom carrier Telefonica Brasil SA VIV recently reported mixed financial results in the first quarter of 2017. First-quarter net income was approximately $316.9 million, down 18.2% year over year.
Just a couple of days ago, Standard & Poor revised Brazil's economic outlook from “Stable” to “Poor.” Brazilian stocks and currency are down by 7% and Brazil's growth has been stagnant, growing by just 0.6% in the first quarter.