8 de noviembre de 2016 / 21:58 / en un año

Brazil's Cielo beats profit estimates on expense cuts

SAO PAULO, Nov 8 (Reuters) - Cielo SA, Brazil’s largest card payment processor, beat third-quarter profit estimates on Tuesday, reflecting stringent cost and expense controls that helped offset the impact of a decline in revenue.

Barueri, Brazil-based Cielo earned 1.051 billion reais ($332 million) in net income last quarter, above the average estimate of 996.49 million reais compiled by Thomson Reuters. Profit rose 2.1 percent and 14.5 percent on a quarterly and annual bases, the company said in a securities filing.

$1 = 3.1680 reais Reporting by Guillermo Parra-Bernal; Editing by Alan Crosby

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