October 29, 2019 / 10:36 PM / 23 days ago

Brazil's Cielo reports lower than expected Q3 income

SAO PAULO, Oct 29 (Reuters) - Brazil’s largest card processor Cielo 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)

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