SAO PAULO, Oct 28 (Reuters) - Profit at Cielo SA slightly beat estimates in the third quarter as robust prepayment revenue at Brazil’s largest card payment processor helped offset steady transaction volumes and higher expenses.
The Barueri, Brazil-based company earned 820.51 million reais ($333 million) in the July-through-September period, slightly above the average profit estimate of 808 million reais in a Reuters poll of eight analysts.
Profit rose 3.0 percent and 18.7 percent on a quarterly and annual bases, respectively, the company said in a securities filing on Tuesday. Management plans to discuss results in a conference call early on Wednesday.
$1 US = 2.4606 Brazilian reais Reporting by Guillermo Parra-Bernal