EBITDA fell 16.4% Y/Y to R$1.8B due to "higher provisions for bad debt and increased marketing and personnel expenses."
Revenue-generating units grew 3.3% Y/Y to 74.8M. Residential RGUs were up 2.2%, personal mobility up 3.8%, and corporate up 4.6%.
The company also announced it will no longer issue guidance due to macroeconomic uncertainty.
Oi's results also took a toll on indirect owner Portugal Telecom (PT -6.2%). The real's depreciation caused PT to report operating revenue from Oi of €694.4M, -8% Y/Y.