Vivo posts Q2 loss

19 Sep 2005

Brasilcel, which operates under the banner Vivo, has reported a BRL18 million (USD7.85 million) operating loss in the second quarter, compared to a BRL405 million net gain at the same time in 2004. Revenue rose 10.2% to BRL3.2 billion, with EBITDA falling 32.4% to BRL602 million. The cellco, which attributed the loss to increased competition in the mobile sector, claimed 28.45 million customers at the end of June, up 1.49 million on a year earlier.