May 24, 2019 / 9:53 PM / in 3 months

Brazilian card processor Cielo cancels 2019 profit guidance

SAO PAULO, May 24 (Reuters) - Brazilian card payment processor Cielo has canceled net profit guidance for 2019 it published in January without releasing any new guidance, the company said in a securities filing on Friday.

In January Cielo said it expected net profit in 2019 of between 2.3 billion and 2.6 billion reais ($646.56 million). Cielo said the decision to cancel the guidance reflects the competitive environment it is facing in Brazil, where many new entrants have started business recently.

$1 = 4.0213 reais Reporting by Marcelo Teixeira Editing by James Dalgleish

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below