Brazil's Gerdau beats first-quarter profit estimates

SAO PAULO Wed May 7, 2014 7:53am EDT

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SAO PAULO May 7 (Reuters) - Brazilian steelmaker Gerdau SA beat profit estimates for the first quarter as expenses fell faster than revenue in a traditionally weak period for output and sales.

Porto Alegre, Brazil-based Gerdau on Wednesday posted net income of 440 million reais ($197 million), above the 344 million reais estimated in a Reuters poll of five analysts.

($1 = 2.23 Brazilian reais) (Reporting by Asher Levine; editing by Jason Neely)

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