February 22, 2018 / 11:07 PM / 6 months ago

Brazil's Magazine Luiza posts higher quarterly profit and revenue

SAO PAULO, Feb 22 (Reuters) - Magazine Luiza SA, a Brazilian electronics retailer whose shares more than sextupled last year, reported a fourth-quarter profit on Thursday that beat estimates, as quarterly revenue rose the most in five years.

In a securities filing, the company posted net income of 165.6 million reais ($51 million), up 160 percent from a year ago, and above a Reuters consensus estimate of 122 million reais.

$1 = 3.2497 reais Reporting by Tatiana Bautzer and Gram Slattery; Editing by Leslie Adler

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