July 23, 2019 / 10:18 PM / a month ago

Brazil's Cielo misses profit estimates as operating expenses surge

SAO PAULO, July 23 (Reuters) - Brazilian card processor Cielo SA on Tuesday posted a 33.3% drop in second-quarter profit from a year earlier, missing analysts' estimates, as operating expenses surged.

Net income came in at 431.2 million reais ($114.27 million), down 12.5% from a Refinitiv consensus of 491.9 million reais. ($1 = 3.7735 reais) (Reporting by Carolina Mandl in Sao Paulo Editing by Matthew Lewis)

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