Brazil's Cielo beats profit estimates on revenue, expense controls

jueves 5 de noviembre de 2015 18:11 GYT

SAO PAULO Nov 5 (Reuters) - Cielo SA, Brazil's largest card payment processor, posted third-quarter net income that beat analyst estimates, as revenue rose at a faster pace than expenses and prepayment receivables came in stronger than expected.

The Barueri, Brazil-based firm earned 918.5 million reais ($242 million) in net income, compared with an average estimate of 909 million reais in a Reuters poll of eight analysts. Profit rose 1.2 percent from the prior three months, while 11.9 percent on an annual basis.

($1 = 3.7909 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Bernard Orr)