{"id":83418,"date":"2023-11-11T13:51:20","date_gmt":"2023-11-11T18:51:20","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/stoneco-shares-rise-6-1-after-3q-revenue-profit-surge\/"},"modified":"2023-11-11T13:51:23","modified_gmt":"2023-11-11T18:51:23","slug":"stoneco-shares-rise-6-1-after-3q-revenue-profit-surge","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=83418","title":{"rendered":"StoneCo Shares Rise 6.1% After 3Q Revenue, Profit Surge"},"content":{"rendered":"
\n

By Ben Glickman<\/p>\n

Shares of StoneCo rose after the company’s profit and revenue jumped in the third quarter.<\/p>\n

The stock was up 6.1% to $11.37 in after-hours trading, following a 4.2% rise at Friday’s close. Shares are up 14% this year.<\/p>\n

\n

The Brazilian financial services company logged a third-quarter profit of 411.3 million reais ($83.8 million), up from BRL197.1 million a year earlier.<\/p>\n

Stripping out certain one-time items, StoneCo reported an adjusted profit of BRL1.32 a share, higher than the BRL1.12 expected by analysts polled by FactSet.<\/p>\n

Revenue surged 25% to BRL3.14 billion, more than the BRL3.078 billion forecast by analysts, according to FactSet.<\/p>\n

The company said its higher top line was driven by an increase in financial services platform revenue resulting from more active clients and improvements to its commercial policy.<\/p>\n

<\/pre>\n
Write to Ben Glickman at ben.glickman@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By Ben Glickman Shares of StoneCo rose after the company’s profit and revenue jumped in the third quarter. The stock was up 6.1% to $11.37 in after-hours trading, following a 4.2% rise at Friday’s close. Shares are up 14% this year. The Brazilian financial services company logged a third-quarter profit of 411.3 million reais ($83.8 […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-83418","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nStoneCo Shares Rise 6.1% After 3Q Revenue, Profit Surge | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Ben Glickman Shares of StoneCo rose after the company's profit and revenue jumped in the third quarter. 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