CORRECTED-Brazil's JBS posts 2nd-qtr net income of 1.657 bln reais

jueves 11 de agosto de 2016 13:18 GYT

(Corrects net income from second-quarter in 2015 to 252 million reais, not 80 million reais, including minority interest in 2nd paragraph.)

SAO PAULO Aug 10 (Reuters) - Brazil's JBS SA, the world's largest meat processor, posted better than expected second-quarter profits on Wednesday, helped by a sharp increase in revenues from its pork business in the United States, said the company.

São Paulo-based JBS earned 1.657 billion reais ($529 million) in net income last quarter, compared with 252 million reais in the year-earlier period. The number was much higher than analysts' average consensus estimate of 439 million reais for profit in the second quarter, as compiled by Thomson Reuters.

JBS said its second-quarter revenue grew 12 percent to 43.6 billion reais. Its U.S.-based pork business saw an increase of 70 percent on revenues. The company also reported good performance from its Brazilian processed meats unit Seara, despite the country's recession.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were 2.89 billion reais in the quarter, 19 percent below the year-earlier period. ($1 = 3.13 Brazilian reais) (Reporting by Marcelo Teixeira; Editing by Sandra Maler)