Brazil's Cetip beats second-quarter profit estimates on revenue

SAO PAULO Thu Aug 8, 2013 5:55pm EDT

SAO PAULO Aug 8 (Reuters) - Cetip SA Mercados Organizados , Latin America's largest securities clearinghouse, slightly beat second-quarter profit estimates on Thursday, after revenue rose more than expected.

Net income at Cetip reached 91.2 million reais ($40 million) in the quarter, compared with 80.1 million reais in the prior three months and 63.5 million reais in the same period a year earlier, according to a securities filing. The company was expected to earn 90.2 million reais in profit, according to the average estimate of seven analysts in a Thomson Reuters poll.