March 2, 2017 / 10:22 AM / in 9 months

Brazil's Ambev posts $1.6 bln net income in fourth quarter

SAO PAULO, March 2 (Reuters) - Ambev SA reported a 13.5 percent increase in fourth-quarter net income from the year before to 4.834 billion reais ($1.6 billion), the Brazilian beverages company said on Thursday.

The result was above a Thomson Reuters consensus estimate of a 4.2 billion reais net income. When adjusted for non-recurring items, net income fell 15.9 percent to 3.656 billion reais.

Adjusted earnings before interest, tax, depreciation and amortization, a gauge of profitability known as EBITDA, fell 25 percent to 6.015 billion reais, below a consensus estimate of 6.7 billion reais.

$1 = 3.0890 reais Reporting by Bruno Federowski. Editing by Jane Merriman

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