Brazil’s Cielo Q2 net profit doubles, beating forecasts

(Reuters) – Brazilian payment processor Cielo SA said on Tuesday its second-quarter net profit more than doubled, beating analysts’ forecasts.

The company, controlled by lenders Bradesco and Banco do Brasil, posted net income of 635.3 million reais ($120.38 million), well above the 285.9 million reais expected by analysts in a forecast compiled by Refinitiv.

(Reporting by Carolina Pulice and Peter Frontini; Editing by Christian Plumb)