By Jeffrey T. Lewis


SÃO PAULO--Localiza Renta a Car's shares rose 7.7% after the Brazilian car rental company's third-quarter results showed a positive surprise for its bottom line.

Shares reached 59.55 reais, the equivalent of $12.26, and were up 4.2% from the end of last year through Monday's close.

Localiza reported its consolidated revenue rose 19% in the third quarter from a year earlier, with consolidated net income growing 3.1% in the same period.

The figures were marked by smooth operating trends and the higher-than-expected profit, Itaú BBA analyst said in a research note. Those factors, plus a solid performance by Localiza's fleet-management unit are positive for its share price, the analysts said.


Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com


(END) Dow Jones Newswires

11-14-23 1003ET