SAO PAULO-SP, Brazil (AP) — SAO PAULO-SP, Brazil (AP) — Telefonica Brasil SA (VIV) on Monday reported second-quarter earnings of $311.3 million.

The Sao paulo-Sp, Brazil-based company said it had net income of 19 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The telecommunications company posted revenue of $3.12 billion in the period.

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