DLO - Why DLocal Stock Surged Higher on Wednesday
2023-08-16 11:14:28 ET
Shares of DLocal (NASDAQ: DLO) were up 42% at 9:56 a.m. ET on Wednesday after the company delivered a better-than-expected second-quarter earnings report.
The payment processor reported higher revenue and earnings per share than analysts expected, sending this beaten-down growth stock soaring off recent lows.
A high valuation weighed on the stock last year, as revenue growth decelerated from triple-digit annual rates to 72% in 2022. Lower growth expectations set the stage for a rebound, as DLocal's revenue increased 59% year over year in the second quarter, while over the previous quarter, revenue grew 17%.
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Why DLocal Stock Surged Higher on Wednesday