July 25, 2012 / 11:29 AM / 5 years ago

Telefonica Brasil profit slips as sales growth slows

* Profit down 5.6 pct in 2nd quarter, missing forecasts

* Slower mobile adds, pay-TV sales cut revenue growth

SAO PAULO, July 25 (Reuters) - Telefónica Brasil posted a 5.6 percent drop in quarterly profit on Wednesday, as Brazil’s largest wireless carrier faced tougher competition in an increasingly saturated mobile market.

The local unit of Spain’s Telefonica said net income fell from a year earlier to 1.086 billion reais ($531 million), missing an average estimate of a 1.127 million reais profit in a Reuters poll of four analysts.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, rose 1 percent from a year ago to 3.093 billion reais, beating forecasts of 2.827 billion reais.

$1 = 2.045 Brazilian reais Reporting by Alberto Alerigi Jr. and Asher Levine; Editing by Maureen Bavdek

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