3. Telecomunicacoes de Sao Paulo - TELESP (VIV - Get Report) provides fixed-line telecommunications services in the State of Sao Paulo and international and interregional long-distance services. It also provides audio, data, voice and other sounds, images, texts and other information. The stock leaped 3.5% over the week.
Of the 11 analysts covering the stock, about half recommend a buy and half rate it a hold.
This week, Brazil's telecommunications regulator Anatel said the country's mobile phone subscriptions increased to 217.3 million in June, up 1.06% from May. New subscriptions totaled 2.3 million in June with fewer cancellations from existing subscriptions. VIV has maintained its market leadership with a 29.47% share of subscriptions.The company reported its second-quarter 2011 results this week. For the quarter, revenue increased to $5.25 billion from $4.93 billion in the year-ago quarter. Total accesses increased 12.2% year-over-year to 79.3 million from the second quarter of 2010. Net income for the quarter surged 30% to $0.74 billion.
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