Brazil retailer GPA profit beats expectations
SAO PAULO, July 23 (Reuters) - GPA SA, Brazil's biggest retailer, posted a second-quarter profit of 358 million reais ($162 million) on Wednesday, beating an average estimate of 265 million reais in a Reuters survey of analysts.
Earnings before interest, taxes, depreciation and amortization, a gauge of operating profit known as EBITDA, was 1.09 billion reais, in line with expectations.
($1 = 2.21 Brazilian reais) (Reporting by Marcela Ayres; Editing by Chris Reese)
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