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The telecoms operator’s fourth quarter net profit of 2.628 billion reais ($519.54 million) beat the Refinitiv forecast of 1.47 billion reais.
The unit of Spain’s Telefonica (NYSE:TEF) which operates under the Vivo brand said it has its biggest client base in history of 98.8 million total accesses.
Earlier, the company said it approved a share buy-back program of up to 42,383,420 common shares.
($1 = 5.0583 reais)
