DLocal Ltd. shares are down after the company reported its fourth-quarter financial results Monday. Here's a look at the details. 

The Details:

DLocal ( DLO ) reported quarterly earnings of 10 cents per share which missed the analyst consensus estimate of 15 cents by 33.33%.

The company reported quarterly sales of $188 million, beating the analyst consensus estimate of $173.686 million and representing a 58.75% increase over sales of $118.428 million the same period last year.

The company announced the appointment of Mark Ortiz as dLocal’s Chief Financial Officer, effective April 15.

“I am proud to share the extraordinary results we delivered during 2023. Despite facing market tests and macro challenges, our team continued to execute our strategy, investing with discipline, and putting our merchants at the center of everything we do. Our 2023 performance demonstrates the resilience of our value proposition and business model. We are now serving 5 of the 6 largest tech companies in the world as measured by market cap,” said Pedro Arnt, CEO of dLocal.

Outlook: 

“We expect to grow our TPV to between $25 billion and $27 billion and gross profit to between $320 million and $360 million in 2024,” said the company.

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DLO Price Action: According to Benzinga Pro, dLocal shares are down 16.4% after-hours at $15.20 at the time of publication.

Image: Pete Linforth from Pixabay