04:43 AM EDT, 05/15/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

DLocal's ( DLO ) shares fell more than 27% in Wednesday's premarket activity after the company's Q1 earnings surprisingly slumped, almost halving from a year ago, and growth in sales also lagged market expectations.

The company reported Q1 earnings late Tuesday of $0.06 per diluted share, down from $0.11 a year earlier.

Analysts surveyed by Capital IQ expected $0.12.

Revenue for the quarter ended March 31 was $184.4 million, up from $137.3 million a year earlier.

Analysts surveyed by Capital IQ expected $189.8 million.

The company said its board has authorized a new share buyback program of up to $200 million, expiring by May 2025.

Price: 9.88, Change: -3.70, Percent Change: -27.25