Brazil’s Oi operator posts US$650 million loss in Q1 2021, down 43.9% from 2020

In the report accompanying the financial statements, Oi explains that the drop in EBITDA is "almost entirely due to the reduction in revenue, mainly as a reflection of the second wave of the pandemic."

RIO DE JANEIRO, BRAZIL - Oi posted a R$3.5 billion (US$650 million) consolidated net loss in the first quarter. The result is 43.9% lower than the R$6.3 billion loss in the same period in 2020. However, when compared to the fourth quarter, when the company posted profits of R$1.8 billion, performance deteriorated.

Net revenue fell 6.2% year-on-year and closed March at R$4.4 billion. A figure that should displease analysts is the strong deterioration of the so-called routine EBITDA, which fell 25.7% on the same basis, from . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?