Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Smiles Rallies Most in Three Weeks as Profit Beats Estimates

Aug. 12 (Bloomberg) -- Smiles SA, the frequent-flier unit of Gol Linhas Aereas Inteligentes SA, posted the biggest two-day rally in three weeks after earnings beat analysts’ estimates.

The shares surged 4.2 percent to 27 reais at the close of trading in Sao Paulo, pushing gains in the past two sessions to 11 percent, the most in such a span since July 23. The Ibovespa stock benchmark climbed 0.9 percent today.

Smiles reported adjusted net income of 48.3 million reais ($21.3 million) in the second quarter, compared with an average estimate for profit of 38.9 million reais, according to data compiled by Bloomberg. The “strong” second-quarter results at the Sao Paulo-based company boost the outlook for the rest of the year, Rafael Frade and Carlos Firetti, analysts at Banco Bradesco SA’s brokerage unit, wrote in a note to clients today.

“We expect the company to post strong growth in the coming quarters,” they wrote.

Smiles rose 6.1 percent on Aug. 9 as competitor Multiplus SA, which reported results for the three months ended in June on Aug. 8 after the market close, beat estimates for the first time in three quarters, according to data compiled by Bloomberg.

Smiles, which became public in April, has nine buy recommendations and two sells, according to data compiled by Bloomberg. Multiplus has six buys, eight holds and one sell.

To contact the reporter on this story: Julia Leite in New York at jleite3@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.