* Q3 net income more than double analyst estimates
* Turnaround plan boosts revenue
SAO PAULO Nov 13 Brazilian telecom Oi SA
posted more than twice the third-quarter profit that
analysts expected on Tuesday, as a turnaround plan helped grow
revenue from a year earlier for the first time in two years.
Oi's net income of 315 million reais ($153 million) beat an
average forecast of 144 million reais in a Reuters poll of
analysts. Profit was not comparable to results a year earlier,
before a corporate restructuring.
Solid growth of Oi's post-paid wireless plans and a slower
contraction of fixed-line services boosted revenue by 1.5
percent from a year earlier, halting a shrinking sales trend.
But Oi had to spend heavily on marketing and handset
subsidies to bolster growth in the midst of an abrupt slowdown
in the mobile phone market.
Earnings before interest, taxes, depreciation and
amortization, a gauge of operating profit known as EBITDA, fell
11 percent from a year earlier to 2.186 billion reais, near a
forecast of 2.213 billion reais in the Reuters survey.