SAO PAULO, May 13 (Reuters) - Brazilian payment

processor StoneCo ( STNE ) reported on Monday a 90% jump in its

first-quarter adjusted net profit, driven by an increase in its

payments processed.

The company posted an adjusted net profit of 450.4 million

reais ($87.48 million), against an estimate of 462.43 million

reais from analysts polled by LSEG.

Revenue for the quarter grew 13.8% compared to a year

earlier to 3.08 billion reais with the revenues from the firm's

financial services reaching 2.71 billion reais.

StoneCo ( STNE ) said its total payments volume grew 17.9% to

114.3 billion reais, with payments from its micro-, small- and

medium-business (MSMB) segment rising 18.4% year-on-year.

Take rates for the segment, the firm's main business,

grew 0.11 percentage points from the previous quarter to 2.54%,

driven by a "growth in micro and smaller clients, which have

higher take rate," it said.

Its nascent credit portfolio grew 72% from the previous

quarter to 532 million reais. StoneCo's ( STNE ) guidance for this year

is at least 800 million reais.

"The (credit) growth comes in leaps, we had a big jump

in the first quarter, but it won't necessarily continue over the

next three quarters," CEO Pedro Zinner told Reuters in an

interview.

Core earnings, or adjusted earnings before interest,

taxes, depreciation and amortization (EBITDA) came in at 1.51

billion reais, up 20.8% from a year earlier and below analysts'

estimate of 1.61 billion reais.

($1 = 5.1486 reais)