Brazil's Gerdau beats first-quarter profit estimates

miércoles 7 de mayo de 2014 07:53 GYT
 

SAO PAULO May 7 (Reuters) - Brazilian steelmaker Gerdau SA beat profit estimates for the first quarter as expenses fell faster than revenue in a traditionally weak period for output and sales.

Porto Alegre, Brazil-based Gerdau on Wednesday posted net income of 440 million reais ($197 million), above the 344 million reais estimated in a Reuters poll of five analysts.

($1 = 2.23 Brazilian reais) (Reporting by Asher Levine; editing by Jason Neely)