StoneCo Stock Falls After Q4 Results: Here's Why
Portfolio Pulse from Erica Kollmann
StoneCo Ltd. (NASDAQ:STNE) reported Q4 sales of $171.6 million, missing estimates and leading to an 8.01% drop in its stock price after-hours. The sales growth was attributed to a 24.4% increase in financial services platform revenues, driven by growth in the MSMB segment and higher client monetization. CEO Pedro Zinner highlighted significant growth in MSMB TPV and banking services, with deposits reaching R$6.1 billion by the end of December.
March 18, 2024 | 9:04 pm
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StoneCo Ltd. reported lower-than-expected Q4 sales, leading to an 8.01% drop in its stock price after-hours.
The reported sales miss directly impacts investor sentiment and stock price, as evidenced by the 8.01% drop in after-hours trading. The growth in financial services and MSMB segment, despite being positive, was not enough to meet the market expectations, leading to negative short-term price action.
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