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Brazil's Oi reports USD153m profit in Q3  Join our daily free Newsletter

MENAFN - 14/11/2012

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(MENAFN) Brazilian telecom Oi SA reported a more than double quarterly profit, on higher revenue, Reuters reported.

The company said it made USD153 million during the third quarter. Profit was not comparable to results a year earlier, before a corporate restructuring.

The company also reported a 1.5 percent increase in quarterly revenue from a year ago, driven by a solid growth of Oi's post-paid wireless plans and a slower contraction of fixed-line services.

To make the turnaround plan work, Oi had to spend heavily on marketing and handset subsidies to push growth further amid a sudden slowdown in the mobile phone market.

Earnings before interest, taxes, depreciation and amortization (EBITDA), dropped 11 percent from a year earlier to USD1.1 billion.

 






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