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Telefonica Brasil SA (NYSE:VIV)
Shares Outstanding
1,126 Mil (As of Sep. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Telefonica Brasil SA's shares outstanding for the quarter that ended in Sep. 2014 was 1,126 Mil.

Telefonica Brasil SA's quarterly shares outstanding increased from Jun. 2014 (1,123 Mil) to Sep. 2014 (1,126 Mil). It means Telefonica Brasil SA issued new shares from Jun. 2014 to Sep. 2014 .

Telefonica Brasil SA's annual shares outstanding declined from Dec. 2012 (381 Mil) to Dec. 2013 (381 Mil). It means Telefonica Brasil SA bought back shares from Dec. 2012 to Dec. 2013 .


Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.


A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.

Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.

Related Terms

Net Issuance of Stock, Buy Back Rate

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Telefonica Brasil SA Annual Data

Shares Outstanding 4925065065061691693143813810

Telefonica Brasil SA Quarterly Data

Shares Outstanding 1,1233811,1231,1251,1233811,1231,1231,1261,126
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