Brazil Telecom Giant Oi Records Loss of R$5.7 Billion in Q3 after Revenue Drop

Oi invests in the expansion of fiber optics internet to grow but loses revenue on landline and mobile clients.

RIO DE JANEIRO, BRAZIL - Oi has just released its financial report for the third quarter of 2019, and the company has recorded a loss of R$5.7 billion (US$1.42 billion).

The news came after the deferral of the release of results, initially scheduled for November 13th. In the midst of a judicial reorganization procedure, the operator has lost mobile telecommunications, fixed broadband, and pay-TV clients.

The total number of clients . . .

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