SAO PAULO, April 27 Vale SA, the world's largest iron ore producer, posted net income that missed estimates in the first quarter, reflecting the impact of heavy rains that hampered output in a key mine and increasing financial expenses.
In a Thursday securities filing, Vale said net income totaled $2.490 billion, compared with an average consensus estimate of $3.325 billion in profit. Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, hit $4.308 billion, below a consensus estimate of $4.996 billion compiled by Thomson Reuters. (Reporting by Guillermo Parra-Bernal; editing by Richard Lough)
UPDATE 2-Alibaba spending $1 bln to raise stake in Southeast Asia's Lazada
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BRIEF-Interpace Diagnostics announces national contract with Aetna
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