Brazil's Cielo misses profit estimate in fourth quarter
SAO PAULO Jan 28 (Reuters) - Cielo SA, Brazil's largest card payment processor, missed fourth-quarter profit estimates on Wednesday after expenses rose at a faster-than-expected pace and prepayment of receivables revenues came in below predictions.
The Barueri, Brazil-based company earned 805.6 million reais (312.8 million) in the quarter, less than the profit of 820 million reais predicted by a Reuters poll of six analysts. On a quarterly basis, profit fell 1.8 percent, while on an annual basis it grew 11.5 percent, the company said in a regulatory filing.
($1 = 2.5757 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Christian Plumb)
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