Brazil's Cielo Q2 net profit beats analysts' forecasts

Wed Jul 25, 2012 8:05pm EDT

* 23 pct jump in transactions drives net revenue

* Net Revenue and EBITDA miss analysts' expectations

SAO PAULO, July 25 (Reuters) - Cielo, Brazil's largest card payment processor, posted second-quarter profit of 548.9 million reais ($270 million), nearly 30 percent higher than a year ago, according to a securities filing.

Net earnings of the Barueri, Brazil-based Cielo beat average expectations of eight analysts for 539.7 million reais.

A 23 percent increase in credit and debit card transactions drove a 28 percent increase in net revenue to 1.26 billion reais compared with a year ago. Revenue missed analysts' estimates of 1.409 billion reais, however.

EBITDA, earnings before interest, tax, depreciation and amortization - a popular gauge of operational profitability - rose 20.7 percent to 705.1 million reais from a year earlier.

EBITDA was expected at 889.6 million reais for the quarter in the poll.

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