13.47
price up icon0.37%   0.05
pre-market  Pre-market:  13.51   0.04   +0.30%
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Why is Stoneco Ltd (STNE) Stock down?

We've noticed a 5.34% decline in Stoneco Ltd (STNE) stock during the 2024-05-22 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
19 Mar, 2024:

StoneCo stock (STNE) dropped by 6.87% following the announcement of mixed fourth-quarter results. Additionally, one of the company founders announced their impending resignation.

  • Quarterly Results: In the fourth quarter of 2023, StoneCo reported a 20.1% year-over-year revenue growth to 3.25 billion Brazilian reals ($645.4 million), with adjusted earnings of 1.76 reals per share ($0.35). Analysts had expected earnings of 1.53 reals per share but revenue closer to 3.40 billion reals.
  • Business Segment Performance: StoneCo's financial-services platform revenue grew 24.4% year over year to 2.87 billion reals, while software revenue declined 3.5% to 363 million reals. The number of active payment clients within StoneCo's micro, small, and medium-size business (MSMB) platform increased by 37.4% year over year to 3,471,300 at the end of 2023. MSMB total payment volume also increased by 20.2% to 98.5 billion reals.
  • Leadership Transition: In conjunction with its quarterly results, StoneCo announced that company founder André Street has chosen not to run for reelection as chairman of the board at the upcoming annual shareholder meeting in April. Street will, however, remain deeply connected to the company and will have the privilege of choosing the next chairman of the board.
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