March 26, 2020 / 11:57 AM / 5 days ago

Brazil's Oi misses estimates, reports larger-than-expected loss

SAO PAULO, March 26 (Reuters) - Brazil's biggest fixed-line carrier Oi SA on Thursday reported a larger-than-expected fourth-quarter net loss.

The company, which filed for bankruptcy protection in June 2016, reported a quarterly net loss of 2.3 billion reais ($457 million) versus a loss of 3.3 billion reais a year earlier, it said in a securities filing.

Analysts expected on average a net loss of 1.1 billion reais, Refinitiv Eikon data showed.

$1 = 5.0345 reais Reporting by Gabriela Mello and Tatiana Bautzer

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