After multiple delays, Oi, Brazil’s fourth-largest telecom, disclosed its Q1 2022 results on Wednesday. The company, which filed for court-supervised recovery in June 2016, posted net profits of BRL 1.78 billion (USD 335,580). The figures are a world away from the BRL 3 billion net losses in the previous quarter.
Oi also recorded BRL 4.4 billion in revenues – nearly the same result as last year, reaching “virtual stability,” as the market likes to call it.
The upturn appears to be a direct effect of Oi’s new business focus, as well as the sale of its mobile operations to the country’s Big 3 players (Vivo, TIM, and Claro) for BRL 16.5 billion, and a 7.2 percent cut in operational expenses. In a conference call with market analysts, Oi’s director of strategy and customer experience, Rogério Takayanagi, said the company’s judicial recovery process should end within...
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