StoneCo Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024
November 12, 2024 at 04:13 pm EST
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StoneCo Ltd. reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported revenue was BRL 3,357.23 million compared to BRL 3,139.88 million a year ago. Net income was BRL 539.69 million compared to BRL 408.75 million a year ago. Basic earnings per share from continuing operations was BRL 1.82 compared to BRL 1.3 a year ago. Diluted earnings per share from continuing operations was BRL 1.78 compared to BRL 1.25 a year ago.
For the nine months, revenue was BRL 9,648.02 million compared to BRL 8,806.32 million a year ago. Net income was BRL 1,408.79 million compared to BRL 940.76 million a year ago. Basic earnings per share from continuing operations was BRL 4.62 compared to BRL 3 a year ago. Diluted earnings per share from continuing operations was BRL 4.53 compared to BRL 2.89 a year ago.
StoneCo Ltd. is a provider of financial technology and software solutions. The Company designed its cloud-based technology platform, namely the Stone Business Model, for its clients to connect, get paid, and grow their businesses. Its segments include financial services and software. In financial services, it offers payments, digital banking, and credit solutions, focused mainly on Micro, Small, and Medium Businesses (MSMBs). In software, it offers Point of Sale (POS) and Enterprise Resource Planning (ERP) solutions for different retail and service verticals, Customer Relationship Management (CRM), engagement tools, electronic commerce, and order management system solutions. It also provides digital product enhancements to help its merchants improve their consumers' experience, such as its split-payment processing, multi-payment processing, recurring payments for subscriptions, and one-click buy functionality. It provides its clients with store, life, and health insurance solutions.
STONECO LTD. 
