06:32 AM EDT, 03/19/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

DLocal ( DLO ) shares sank more than 12% in premarket activity Tuesday after the company's Q4 earnings missed forecasts and announced the appointment of a new chief investment officer.

The company reported Q4 earnings late Monday of $0.10 per diluted share, up from $0.06 a year earlier.

Four analysts polled by Capital IQ expected $0.15.

Revenue in the quarter ended Dec. 31 rose to $188 million from $118.4 million a year earlier.

Analysts surveyed by Capital IQ expected $173.2 million.

Separately, dLocal said late Monday it named Mark Ortiz as chief financial officer.

Ortiz has 30 years of financial and operational management experience, mainly within GE's umbrella companies, dLocal said. He succeeds Diego Cabrera Canay.

Price: 15.89, Change: -2.29, Percent Change: -12.6