Telefonica Brasil SA (NYSE: VIV) shares plummeted 6.84% in intraday trading on Wednesday, following the company's disappointing fourth quarter 2024 earnings results. The Brazilian telecommunications giant missed earnings and revenue estimates by a significant margin, raising concerns among investors about its financial health and future prospects.

The company reported earnings per share of $0.19, missing analyst consensus estimates of $1.02 by a staggering 81.37%. Revenue for the quarter came in at $2.50 billion, falling short of the expected $14.54 billion by 82.80%. The poor quarterly performance, with both earnings and revenue declining significantly year-over-year, weighed heavily on investor sentiment, leading to a steep sell-off in Telefonica Brasil's stock.

The earnings miss and subsequent stock plunge underscore the challenges facing Telefonica Brasil in a highly competitive telecommunications market. Analysts have cited concerns over the company's ability to maintain profitability and sustain growth amid intense competition and changing consumer preferences. As investors digest the disappointing results, the focus will likely shift to the company's strategic plans and efforts to address the underlying issues and regain momentum in the coming quarters.