Brazil's Cielo misses profit estimates as costs, expenses jump

lunes 1 de febrero de 2016 17:57 GYT
 

SAO PAULO Feb 1 (Reuters) - Cielo SA, Brazil's largest card payment processor, missed fourth-quarter profit estimates on Monday, after rising costs and expenses more than offset robust receivables prepayment and card processing revenues.

The Barueri, Brazil-based company earned 899.170 million reais ($227 million) in net income last quarter, or about 2.1 percent less than in the third quarter, according to a securities filing. A Reuters poll of analysts expected profit of 954 million reais.

($1 = 3.9609 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Chris Reese)