Update: StoneCo Q4 Adjusted Earnings, Revenue Rise; 2024 Net Income Outlook Misses; Shares Slump Premarket-March 2024-www.financetom.com

Update: StoneCo Q4 Adjusted Earnings, Revenue Rise; 2024 Net Income Outlook Misses; Shares Slump Premarket

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Update: StoneCo Q4 Adjusted Earnings, Revenue Rise; 2024 Net Income Outlook Misses; Shares Slump Premarket

Mar 19, 2024 3:46 AM

06:27 AM EDT, 03/19/2024 (MT Newswires) -- (Updates with the stock move in the headline and first paragraph.)

StoneCo's ( STNE ) shares slumped more than 8% in recent premarket activity Tuesday after the financial technology firm's Q4 sales missed analysts' expectations and its adjusted net income guidance for the current year also lagged.

The company reported Q4 adjusted earnings late Monday of 1.76 Brazilian reais ($0.35) per diluted share, up from 0.63 Brazilian reais.

Analysts polled by Capital IQ expected 1.48 reais.

Revenue for the quarter ended Dec. 31 was 3.25 billion reais, up from 2.71 billion reais a year earlier.

Analysts surveyed by Capital IQ expected 3.41 billion reais.

The company expects 2024 adjusted net income of over 1.9 billion reais. Analysts polled by Capital IQ expect 2 billion reais.

Price: 16.02, Change: -1.45, Percent Change: -8.3

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