JBS Posts Record Profit as Currency Slump Boosts Revenue
- Net income more than tripled in third quarter, sales up 40%
- Both revenue and profit missed analysts' average estimates
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JBS SA’s third-quarter profit more than tripled as the slump in the Brazil real boosted revenues at the world’s largest meat producer.
Net income climbed to 3.44 billion reais ($902 million) from 1.1 billion reais a year earlier, the Sao Paulo-based company said in a statement late Wednesday. That missed the 3.64 billion-real average of nine analysts’ estimates compiled by Bloomberg.