StoneCo Ltd. (NASDAQ:STNE) shares are trading lower Tuesday after the company reported mixed fourth-quarter financial results after the market close Monday.
The Details:
The company reported quarterly earnings of 36 cents per share which beat the analyst consensus estimate of 30 cents.
Quarterly sales came in at $655.87 million, which missed the analyst consensus estimate of $683.63 million by 4.06%. This represents growth of 20.1% year-over-year and primarily driven by a 24.4% increase in financial services platform revenues, a result of active client base growth and higher monetization from clients, mainly in its MSMB segment.
"Our top priority, ‘Winning in MSMBs,' posted remarkable growth. We achieved a notable increase in MSMB TPV both annually and in the fourth quarter, showing an ...