Brazil's Cyrela misses profit estimates on lower revenue

martes 9 de agosto de 2016 17:36 GYT
 

SAO PAULO Aug 9 (Reuters) - Cyrela Brazil Realty SA , Brazil's biggest listed homebuilder, missed second-quarter profit estimates on Tuesday as revenue fell and expenses rose amid the nation's harshest recession in decades.

Net income totaled 45 million reais ($14 million) last quarter, missing a consensus estimate of 59.2 million reais compiled by Thomson Reuters. Earnings before interest, tax, debt and amortization, a gauge of operational profitability known as EBITDA, came in at 63 million reais, below the 133.9 million reais consensus estimate.

($1 = 3.1467 Brazilian reais) (Reporting by Ana Mano; Editing by David Gregorio)