DLO - Why DLocal Stock Is Skyrocketing This Week
2023-08-18 08:36:41 ET
DLocal (NASDAQ: DLO) stock is posting explosive gains in this week's trading thanks to strong quarterly results. The fintech specialist's share price was up 51.6% from the previous week's market close before the market opened on Friday, according to data from S&P Global Market Intelligence .
DLocal published its second-quarter results after the market closed on Aug. 15, delivering sales and earnings for the period that came in above Wall Street's expectations. The Uruguay-based company posted earnings of $0.15 per share on revenue of roughly $161.14 million, beating the average analyst estimate's call for per-share earnings of $0.13 on sales of $149.39 million.
DLocal managed to grow revenue roughly 59% year over year in the second quarter, and the business continued to post strong net revenue retention. The payment-technologies specialist recorded a net revenue retention rate of 148% in the quarter, which means that existing customers increased their spending an average of 48% compared to the prior-year period. Total payment volume conducted across its platform also skyrocketed 80% year over year to hit $4.4 billion.
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Why DLocal Stock Is Skyrocketing This Week