SAO PAULO : Brazilian financial tech firm StoneCo on Wednesday posted a better-than-expected first-quarter profit, while also predicting further revenue growth for the second quarter. The firm reported adjusted net profit of 236.6 million reais, more than five times the figure reported a year ago and abov
SAO PAULO : Brazilian financial tech firm StoneCo on Wednesday posted a better-than-expected first-quarter profit, while also predicting further revenue growth for the second quarter.
Revenue grew 31 per cent in the period to 2.71 billion reais, also above the expected 2.67 billion reais, boosted by solid growth in the firm's financial services platform. The company also forecast revenue of 2.875 billion reais for the second-quarter, which would represent a growth of 24.8 per cent over the previous year.
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