Telephone operator Oi reported on Monday its financial results for the third quarter of 2019. The results show a net loss of $ 5.747 billion in the period – 4.3 times greater than the $ 1.366 billion recorded in the same period. period last year.
Compared to the second quarter of 2019, when the carrier's loss reached R $ 1,559 billion, the increase in losses was 3.6 times.
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Earnings before interest, taxes, depreciation and amortization (Ebitda) in the third quarter fell 32.9% over the previous year and 19.6% over the second quarter, reaching R $ 979 million.
The operator's net revenue was R $ 5,001 billion. This represents a decrease of 8.8% compared to the previous year. Oi's net debt grew, reaching R $ 14.713 billion at the end of September this year.
Initially scheduled for November, the disclosure of financial results had been postponed by the operator. She said she needed more time to complete the numbers audit and to comply with the earlier agreement with the Securities and Exchange Commission (SEC).
Oi's loss places the operator among the listed companies with the largest losses. The operator is currently undergoing judicial reorganization and has recently begun the process of selling its mobile business.
The operator has been working to expand its fiber-optic broadband business, but the results are not encouraging. Oi has confirmed that most of its current broadband base is comprised of copper accesses (ADSL and VDSL). Total customers with fiber optic access are 408,000, well below the 4.5 million ADSL and VDSL customers.