Brazil's Cielo reports lower than expected Q3 income

SAO PAULO, Oct 29 (Reuters) - Brazil's largest card processor Cielo SA CIEL3.SA posted on Tuesday a lower-than-expected net income in the third quarter, as the company sacrificed profitability for volumes.

Cielo posted a profit of 358 million reais in the third quarter, missing analysts' estimates of 376.6 million reais and down 50% from the same period a year earlier.

(Reporting by Tatiana Bautzer and Carolina Mandl Editing by Chris Reese)

((; Tel: +55-11-5644-7756; Mob: +55-119-4210-4173; Reuters Messaging:

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.