Brazil's Vivo Posts 2Q BRL112.8 Million Loss Vs BRL493.1 Million Loss

SAO PAULO -(Dow Jones)- Vivo Participacoes, Brazil's largest mobile telephone operator, reported a second-quarter net loss of 112.8 million Brazilian reals ($60.8 million), compared with a loss of BRL493.1 million in the same period a year ago.

A survey of three analysts, conducted by the local Estado newswire, had forecast results ranging from a net profit of BRL51 million to a loss of BRL52.3 million.

Second-quarter revenue was BRL3.02 billion, up from BRL2.6 billion in the second quarter of 2006.

The company's earnings before interest, taxes, depreciation and amortization, or Ebitda, were BRL634.2 million, more than the double the BRL306.3 million in the second quarter of 2006. The Ebitda figure came in slightly below expectations. The survey showed an average Ebitda of BRL684.5 million.

The Ebitda margin, a measure of profitability over net revenue, was 21% in the quarter, up from 11.8% last year.

Vivo is a joint venture between Spain's Telefonica and Portugal Telecom.

-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3145-1480; rogerio.jelmayer@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 20th July 2007