financetom
Business
financetom
/
Business
/
Brazil's Americanas posts 4% increase in Q1 net revenue - preliminary data
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brazil's Americanas posts 4% increase in Q1 net revenue - preliminary data
Jun 11, 2024 6:13 AM

SAO PAULO, June 11 (Reuters) - Brazilian retailer

Americanas posted 3.76 billion reais ($701.18

million) in net revenue for the first quarter this year,

unaudited results showed on Tuesday, up 3.6% from the same

period a year earlier.

Americanas did not provide a comparison base for the results

when it released them on Tuesday through a securities filing,

but it had previously reported a 3.63 billion-real net revenue

for the first quarter of 2023.

The nearly century-old company, which is backed by the trio

of billionaires that founded investment firm 3G Capital, has

been in bankruptcy protection since early last year, when it

uncovered some $4 billion in accounting inconsistencies.

The firm posted adjusted earnings before interest, taxes,

depreciation and amortization (EBITDA) of 284 million reais ($53

million) for the period.

The retailer on Tuesday also released some unaudited

results for the full year of 2023, since it had previously only

disclosed the earnings for the first nine months of last year.

Americanas said in the filing it expects to report the

audited numbers for both 2023 and the first quarter of 2024 as

soon as an independent committee concludes its investigation

into the firm's accounting scandal.

It added it expects to revert its current negative net

equity in the third quarter of 2024 due to the effects of the

debt restructuring it has been implementing.

($1 = 5.3624 reais)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Meta Reportedly Tried To Buy AI Video Startup Runway Before $14 Billion Scale AI Bet: Report
Meta Reportedly Tried To Buy AI Video Startup Runway Before $14 Billion Scale AI Bet: Report
Jun 24, 2025
Meta Platforms Inc. ( META ) held acquisition discussions with artificial intelligence video startup Runway before completing its $14.3 billion investment in Scale AI. What Happened: The talks between Meta and Runway, known for AI video-generation tools, did not advance significantly and ultimately dissolved, CNBC reported, citing sources. The approach represents part of CEO Mark Zuckerberg‘s aggressive push to strengthen...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Uber, Waymo launch autonomous ride-hailing service in Atlanta
Uber, Waymo launch autonomous ride-hailing service in Atlanta
Jun 24, 2025
June 24 (Reuters) - Uber Technologies ( UBER ) on Tuesday is beginning autonomous ride-hailing in Atlanta with Alphabet unit Waymo after offering the service in Austin, Texas, since March. The companies, which first announced the plan for the Atlanta service in September 2024, will offer Waymo autonomous vehicles on the Uber app for travel across 65 square miles (168...
Italy's Akros denies any large investors shut out of last year's MPS stake sale
Italy's Akros denies any large investors shut out of last year's MPS stake sale
Jun 24, 2025
* Financial Times says EU examining Italy's sale of MPS stake * Akros says it conducted placement 'properly and transparently' (Adds details and Akros quotes) MILAN, June 24 (Reuters) - Italy's Banca Akros, the investment bank of Banco BPM, said on Tuesday that no large investors were shut out of the placement it handled in November of a 15% stake...
Copyright 2023-2026 - www.financetom.com All Rights Reserved