UPDATE 1-Brazil's Oi posts worst-than-expected unaudited loss

jueves 12 de noviembre de 2015 07:27 GYT
 

(Adds sales, debt figures)

SAO PAULO Nov 12 (Reuters) - Brazilian telecom Oi SA reported a third-quarter net loss of 1.021 billion reais ($271 million), down sharply from a narrow profit a year earlier, according to unaudited results in a Thursday securities filing.

The loss was nearly twice as big as an average forecast of 528 million reais in a Reuters poll of analysts.

Oi did not say in the filing why its results had not been audited or give a date for publishing audited earnings.

Net sales fell 2 percent as a sharp recession and nearly double-digit inflation eroded consumer demand, especially in sensitive segments such as pre-paid mobile charges.

Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, slipped 4 percent to 2.178 billion reais from a year ago, but came in above an average estimate of 1.843 billion reais.

Oi's stifling net debt burden rose 8 percent from June to September to 37.241 billion reais, contributing to a doubling of interest expenses that triggered the net loss.

($1 = 3.76 Brazilian reais) (Reporting by Brad Haynes and Reese Ewing Editing by W Simon)