Vale reports Q1 profit of $3.11 bln, beating analysts estimate

Wed Apr 24, 2013 5:27pm EDT
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RIO DE JANEIRO, April 24 (Reuters) - Brazilian global mining giant Vale SA recorded a profit of $3.11 billion in the first quarter of 2013, according to a filing with securities regulators on Wednesday, beating analyst expectations.

The company also reported net sales, or sales minus sales taxes, of $10.94 billion. The average estimate of eight analysts surveyed by Reuters was for a profit of $2.71 billion.

Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, was $4.16 billion.