Brazil's Oi reverses loss in second quarter on Portuguese sale
SAO PAULO Aug 13 (Reuters) - Brazilian telecoms company Oi SA posted second-quarter net income of 671 million reais ($192.8 million) on Thursday, reversing a loss from the year-earlier period, after booking a one-time gain of 1.113 billion reais from the sale of its PT Portugal unit to European group Altice SA.
The Rio de Janeiro-based company reported a recurring net loss, or a shortfall before extraordinary items, of 442 million reais, wider than the 185 million reais loss recorded a year earlier, according to a securities filing.
Earnings before interest, taxes, depreciation and amortization fell 3.6 percent from a year earlier to 1.899 billion reais, near the average estimate of 1.916 billion reais.
($1 = 3.48 Brazilian reais) (Reporting by Asher Levine; Editing by Greg Mahlich)
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