August 9, 2018 / 9:42 PM / 3 months ago

Brazilian homebuilder Cyrela posts surprise loss

SAO PAULO, Aug 9 (Reuters) - Cyrela Brazil Realty SA , one of Latin America’s largest homebuilders, missed quarterly profit estimates on Thursday.

In a securities filing, the firm posted a surprise second- quarter net loss of 28 million reais ($7.37 million), below a Reuters consensus estimate for a 13 million-real profit.

Cyrela and its peers in the homebuilding sector were hit by the effects of the soccer World Cup in the second quarter, which slowed the flow of potential home buyers. ($1 = 3.80 reais) (Reporting by Gram Slattery; editing by Jonathan Oatis)

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