DLO - Why dLocal Stock Exploded Higher on Wednesday
Shares of dLocal Limited (NASDAQ: DLO) charged sharply higher Wednesday, gaining as much as 33.2%. As of 1:26 p.m. ET, the stock was still up 24.3%.
The catalyst that sent the Uruguayan fintech higher was its quarterly financial report, which illustrated robust growth that outpaced expectations.
In the first quarter, dLocal generated revenue of $87.5 million, up an eye-catching 117% year over year. The company's net income improved by 56% to $26.3 million, resulting in earnings per share of $0.08. To put those numbers in context, analysts' consensus estimates were calling for revenue of $82.8 million and earnings per share of $0.07.
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Why dLocal Stock Exploded Higher on Wednesday