SAO PAULO, May 23 (Reuters) - Brazilian payment firm PagBank reported on Thursday a 33% rise in its first quarter net recurring profit from a year earlier.

PagBank posted a 522 million reais ($101.31 million) net recurring profit for the quarter ended in March, while analysts polled by LSEG expected 475.2 million reais. ($1 = 5.1527 reais) (Reporting by Andre Romani; editing by Jonathan Oatis)