April 26, 2017 / 9:46 PM / 4 months ago

Brazil's Estácio misses profit estimates in first quarter

BRASILIA, April 26 (Reuters) - Estácio Participações SA, Brazil's No. 2 for-profit education firm, missed profit estimates in the first quarter as revenue suffered in the wake of rising delinquencies.

Rio de Janeiro-based Estácio, which is being acquired by larger rival Kroton Educacional SA, posted net income of 121.8 million reais ($38.40 million) last quarter, down 4.8 percent from the same period a year ago. The number came in below the consensus estimate of 141.82 million reais compiled by Thomson Reuters. ($1 = 3.1720 reais) (Reporting by Gabriela Mello; Writing by Alonso Soto; Editing by Jonathan Oatis)

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