August 11, 2016 / 11:32 AM / a year ago

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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