Brazil's Estácio reports surprise Q2 loss of 20 mln reais

viernes 12 de agosto de 2016 07:01 GYT
 

SAO PAULO Aug 12 (Reuters) - Brazilian education company Estácio Participações SA reported a surprise second-quarter loss of 19.9 million reais ($6.3 million), as a second year of crippling recession weighed on students' ability to pay tuition.

The consensus estimate was for a 109 million reais profit.

Earnings before interest, taxes, depreciation and amortization (EBITDA) at 43.6 million reais were less than one-third of the 171 million expected by analysts.

($1 = 3.1387 Brazilian reais) (Reporting by Tatiana Bautzer; editing by Jason Neely)