7 de mayo de 2014 / 11:54 / hace 3 años

Brazil's Gerdau beats first-quarter profit estimates

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

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