U.S. Markets open in 5 hrs 8 mins

Brazilian telecom TIM Participacoes beats quarterly profit estimates

RIO DE JANEIRO, July 30 (Reuters) - Brazilian wireless carrier TIM Participacoes SA posted on Tuesday a 26% rise in second quarter net profit compared to the same period a year before when adjusted for one-off factors, beating market expectations.

In a securities filing, the local subsidiary of Telecom Italia SpA said its quarterly net income hit 423 million reais, above a consensus estimate of 354 million reais compiled by Refinitiv.

(Reporting by Gram Slattery; Editing by Sandra Maler)