April 27, 2017 / 9:19 AM / a year ago

Brazil's Vale misses profit estimates as revenue falls

SAO PAULO, April 27 (Reuters) - Vale SA, the world’s largest iron ore producer, posted net income that missed estimates in the first quarter, reflecting the impact of heavy rains that hampered output in a key mine and increasing financial expenses.

In a Thursday securities filing, Vale said net income totaled $2.490 billion, compared with an average consensus estimate of $3.325 billion in profit. Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, hit $4.308 billion, below a consensus estimate of $4.996 billion compiled by Thomson Reuters. (Reporting by Guillermo Parra-Bernal; editing by Richard Lough)

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