Brazil's Oi posts wider-than-expected loss in second quarter
SAO PAULO Aug 11 (Reuters) - Oi SA, the Brazilian phone carrier that filed for bankruptcy protection in June, posted a bigger-than-expected loss in the second quarter, reflecting the burden of a harsh recession, soaring funding costs and mounting competition.
In a Thursday securities filing, Rio de Janeiro-based Oi said it lost a net 656 million reais ($210 million) last quarter, bigger than the average consensus estimate of 256.9 million reais compiled by Thomson Reuters from analysts.
Company management is expected to discuss results at a conference call later on Thursday.
($1 = 3.1237 Brazilian reais) (Reporting by Ana Mano; Editing by Chizu Nomiyama)
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