UPDATE 1-Brazil’s B3 reports 13% rise in Q3 net income to $239 million

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(Adds details on quarterly results)

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SAO PAULO, Nov 11 (Businesshala) – Brazilian stock exchange operator B3 on Thursday reported third-quarter recurring net income of $1.29 billion ($239 million) in line with analysts’ estimates and a 13% increase from a year ago. informed of.

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B3’s income before interest, taxes, depreciation and amortization totaled reais 1.82 billion, which exceeded the consensus estimate of reais 1.796 billion.

“In the face of high inflation and, consequently, rising interest rates, our markets have continued to perform solidly,” B3 said in a filing.

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Third quarter revenue totaled $2.5 billion, down 0.9% from the year-ago quarter, noting that results were positively impacted by the reversal of non-recurring provisions.

Shares of B3 are down more than 30% this year, as analysts question the company’s growth opportunities.

$1 = 5.3989 Reporting by Aluísio Alves; Additional reporting by Anthony Bodle; Editing by Rosalba O’Brien and Peter Cooney

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