January 28, 2019 / 9:53 PM / 8 months ago

Brazil's Cielo misses fourth-quarter estimates amid fierce competition

SAO PAULO, Jan 28 (Reuters) - Brazilian card processor Cielo SA missed analysts’ forecasts for the fourth quarter amid fierce competition among payment solution companies in Brazil.

Cielo on Monday reported net income of 724.1 million reais ($192.51 million) in the fourth quarter, down 30.6 percent from the same period one year earlier and below a Refinitiv analyst consensus of 892.3 million reais.

$1 = 3.7614 reais Reporting by Carolina Mandl; Editing by Dan Grebler

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