Cielo SA

Brazil's Cielo SA has been shortlisted to form a joint venture with state-controlled bank Caixa Economica Federal, the card processor's CEO told journalists on Wednesday.

Brazil's largest card processor Cielo SA <CIEL3.SA> reported lower-than-expected net income in the third quarter on Tuesday, as the company sacrificed profitability for volumes as it fights off new competition.

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.

Brazil payment processor Cielo SA said on Monday that it will launch digital banking services in October, joining a growing group of companies challenging the country's long-established bric and mortar banks.

Banco do Brasil SA is not considering selling its stake in Cielo SA, the state-controlled lender's chief executive of said on Thursday, sending shares of the card processor down more than 2%.

State-controlled Brazilian lender Banco do Brasil SA said on Monday it is not in talks to sell its stake in card processor Cielo SA, according to a securities filing.

Shares in the Brazilian card processor Cielo SA rose more than 15% on Thursday after newspaper O Estado de S. Paulo reported Banco do Brasil SA was considering selling its stake in the company.

Brazilian card processor Cielo SA would be more competitive if it had its own sources of funding to finance merchants, company Chief Executive Paulo Caffarelli told journalists on Wednesday.

Brazilian card processor Cielo SA <CIEL3.SA> on Tuesday posted a 33% drop in second-quarter profit from a year earlier, missing analysts' estimates, as operating expenses surged and revenues fell amid fierce competition in the sector.

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.

Brazil's largest credit card processor, Cielo SA, is tightening its belt amid fierce competition with rivals like PagSeguro Digital Ltd and StoneCo Ltd to boost profitability and free up money for new products.

Brazilian card processor Cielo SA's dividend cut, which it announced on Friday, is intended to give it room to raise capital expenditure in a competitive market, Chief Executive Officer Paulo Caffarelli said.

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.

Brazil's largest card processor Cielo said on Monday it had increased its market share in the first quarter for the first time since mid-2017, a sign of its progress in the country's fiercely competitive electronic payments space.

Cielo SA Chief Executive Paulo Caffarelli said on Wednesday it was too early to determine if the Brazilian card processor would meet its annual profit target in 2019, as competition is still fierce, though he maintained that guidance.

The chief executive of Cielo SA said on Tuesday the Brazilian card processor will offer clients free card reader machines and instant payments, following recent moves by competitors such as PagSeguro Digital Ltd and Itaú Unibanco Holding SA's unit Rede.

Brazilian card processor Cielo SA on Tuesday posted a steeper-than-expected 45 percent drop in quarterly profit, with expenses surging by more than a fifth after it boosted promotional spending amid rising competition.

Brazilian card processor Cielo SA on Tuesday posted a steeper than expected 45 percent drop in quarterly profit amid tough competition among payment solutions companies in Brazil.

Brazil's Cielo SA is targeting profit of between 2.3 billion reais and 2.6 billion reais ($612 million to $691 million) this year, down from 3.3 billion reais ($883 million) in 2018, the card processor said in a securities filing on Tuesday.