Brazil's Cielo earnings beat estimates on strong volumes

martes 6 de mayo de 2014 18:58 GYT
 

SAO PAULO May 6 (Reuters) - Cielo SA, Brazil's largest card payment processor, said on Tuesday first-quarter earnings beat estimates after transaction volumes came in atypically high in what usually is a weak quarter.

The Barueri, Brazil-based company posted net income of 805.9 million reais ($361.3 million) in the first three months of the year, up 25.3 percent from the year-earlier period, according to a securities filing. A Reuters poll of five analysts predicted Cielo to earn an average profit of 737 million reais in the quarter.

($1 = 2.23 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by David Gregorio)