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Localiza Quarterly Profit Falls Less-Than-Expected

Localiza Rent a Car SA, a Brazilian car-rental company, said profit fell 86 percent in the second quarter, beating analysts’ expectations.

Net income was 10.7 million reais, compared with 74 million reais a year earlier, according to a regulatory filing today. The result was above the mean estimate for an adjusted profit of 8.22 million reais in a Bloomberg survey of five analysts.

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