StoneCo's stock surged 5.67% in the after-hours session following the release of its first-quarter financial results, which showed the company outperforming revenue expectations and demonstrating robust business expansion.
The Brazilian financial technology company reported recurring revenue of 3.6 billion Reais for the first quarter, exceeding the Ibes consensus estimate of 3.5 billion Reais. Additionally, StoneCo revealed a significant increase in its client base, with total active clients reaching 4.7 million, representing a 13.2% year-over-year growth.
While the company's adjusted net profit of 549 million Reais came in slightly below the estimated 561 million Reais, the strong top-line performance and customer growth appear to have driven investor optimism, leading to the notable after-hours price increase.
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