July 31, 2018 / 4:49 PM / 15 days ago

Brazil card processor Cielo's shares fall 7 pct after profit miss

SAO PAULO, July 31 (Reuters) - Shares in Brazilian card processor Cielo SA slid 7.2 percent in mid-afternoon trading in Sao Paulo after the company missed profit estimates amid fierce competition.

Shares were at 14.77 reais after Ceilo reported recurring net income in the second quarter that was 13 percent below the consensus of analysts polled by Thomson Reuters. The company said its largest clients saw the biggest drop in debit card transactions. (Reporting by Aluisio Alves; Writing by Tatiana Bautzer; Editing by David Gregorio)

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