UPDATE 1-Brazil's Cielo misses profit estimate amid fierce competition [Reuters (UK)]
CIELO SA S/ADR (CIOXY)
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Source: Reuters
UPDATE 1-Brazil's Cielo misses profit estimate amid fierce competition | Reuters Reuters Staff 1 Min Read (Adds quarterly results) RIO DE JANEIRO, July 30 (Reuters) - Cielo SA, Brazil’s largest credit and debit card processor, missed analysts’ second-quarter profit estimate on Monday as a more competitive market for payment solution companies hurt its margin. Cielo posted a recurring net income of 817.5 million reais ($219.33 million) in the second quarter, nearly 13 percent below Thomson Reuters analyst consensus and 17.8 percent below its profit a year earlier. The card processor said in a securities filing it would pay out 3.5 billion reais ($939.09 million) in dividends for the 2018 fiscal year, to be paid in two installments. The company also said it would pay dividends every quarter from now on, instead of twice a year, as it does now. ($1 = 3.7270 reais) (Reporting by Aluisio Alves and Carolina Mandl; editing by Diane Craft) All quotes delayed a minimum of 15 minutes. See her
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