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StoneCo Ltd. Stock Jumps nearly 12% after reporting total revenue of R$2.07 billion in the first quarter of 2022, a 138.6% increase from the same period in 2021.
Source: Stone.Co
STNE up +11.90%, HNST down -0.59%, Pre-market trading
The reported revenues topped R$1.85 to R$1.90B guidance largely backed by a 107.8% increase in revenue from financial services and an increase in software revenues to R$326.6B.
The company’s adjusted earnings before taxes rose from R$17.2 million in Q4 to R$163.1 million in Q1 of 2022 due to a solid increase in total revenue and effective control of costs.
Thiago Piau, CEO of Stone, stated that the pricing initiatives have gained traction and raised the quality of the customer base.
Stone reported a 63.1% increase in the total volume of payments (TPV) in Q1 with a focus on micro, small and medium-sized companies.
The company anticipates total revenue of R$2.15 to R$2.2 billion in the second quarter, with a 148% to 154% expansion compared to the second quarter of last year.
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