August 6, 2014 / 10:56 AM / 3 years ago

Brazil's Oi posts net loss for second quarter

SAO PAULO, Aug 6 (Reuters) - Grupo Oi SA, the owner of Brazil’s fourth-largest mobile phone carrier, posted a second-quarter net loss of 221 million reais ($97 million), according to a securities filing on Wednesday.

For the year-earlier period, Oi had reported a shortfall of 124 million reais.

Earnings before interest, tax, depreciation and amortization reached 2.55 billion reais in the quarter, down 21.3 percent from a year earlier.

Oi, which is also the biggest Brazilian fixed-line operator, is reporting earnings for the first time since its merger with major shareholder Portugal Telecom SGPS SA in April. Due to questions about how results will be announced and potential conflicts of interest from banks involved in the deal, few analysts provided comparable earnings forecasts. (Reporting by Guillermo Parra-Bernal; Editing by Lisa Von Ahn)

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