Brazil telecoms operator Oi has posted second-quarter net income of BRL444 million (USD252 million), reversing a loss of BRL146 million in the same quarter last year which coincided with the worst period of Brazil’s recession. Net revenue meanwhile grew to BRL7.4 billion, up 1.3% year-on-year. Buoyed by the results, Oi CFO Alex Zorning said in a conference call: ‘We are looking at more investments in growth areas, such as broadband internet and 3G applications.’ Zornig said the company will invest between BRL3 billion and BRL4 billion in 2010.