Brazil's StoneCo falls after Q4 revenue miss

StoneCo

19/03/2024 13:15

** Shares of Brazilian payments processor StoneCo  STNE.O 
fall 9.6% to $15.8 premarket
    ** After market close on Monday, STNE posted Q4 revenue of
3.25 bln reais ($646.07 mln) missing analysts' expectation of
3.42 bln reais - LSEG data
    ** Firm's Q4 software segment revenue fell 3.5% to 363.2 mln
reais, hurt by weakness in its enterprise business
    ** Q4 total payment volume (TPV) rose 13.3% to 113.5 bln
reais, compared to last year
    ** STNE's Q4 adjusted net income was 563.8 mln reais,
topping estimates of 483 mln reais
    ** Itaú BBA analysts said weaker-than-expected revenue and
TPV showed lower take-rates - fees charged for processing a
transaction
    ** Softer revenues can weigh on stocks that trade with a
growth premium - brokerage Itaú BBA 
    ** As of last close, STNE shares down 3.1% YTD
    
($1 = 5.0304 reais)

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))