Brazil's PagBank posts 20% increase in fourth quarter profit on TPV growth (updated)

PagSeguro Digital

28/02/2024 22:21

(Adds earnings details in paragraphs 2-3)
       SAO PAULO, Feb 28 (Reuters) - Brazilian payment firm
PagBank  PAGS.N  posted a 20% increase on its fourth quarter net
profit from a year earlier, benefited from a rise in its total
payment volume (TPV) on acquiring business.
    The firm, which operates as an acquirer and a digital
lender, reported a 488 million reais ($98.24 million) net profit
for the fourth quarter. Analysts polled by LSEG were expecting a
441.3 million reais reported net income.
        Its net revenue rose 10% year-on-year in the quarter
ended in December to 4.35 billion reais, with a 21% increase in
total payment volume (TPV) on its main acquiring business.

($1 = 4.9675 reais)

 (Reporting by Andre Romani; Editing by Steven Grattan)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))