StoneCo Q3 earnings rise past consensus as payment volume drifts up

StoneCo Ltd. (NASDAQ:STNE) delivered Tuesday its second straight earnings beat in Q3 as the Brazilian fintech’s payment volume continued to drift higher during the quarter.

Adjusted EPS of R$1.97 (US$0.34), surpassing the R$1.78 average analyst estimate, advanced from R$1.61 in Q2 and R$1.38 in the year-earlier quarter.

Q3 total revenue and income of R$3.36B, also topping the R$3.34B consensus, gained 4.7% sequentially and 6.9% from a year ago.

Total payment volume was R$128.9B in Q3, up from R$126.1B in Q2 and +15.3% Y/Y. MSMB segment TPV of R$114.0B gained 4.3% Q/Q and 19.9% Y/Y. MSMB net additions were 108.1K, lower than the 184K last quarter.

Meanwhile, the company reaffirmed its 2024 guidance for adjusted net income (more than R$1.9B) and MSMB card TPV (over R$412B).

(NASDAQ:STNE) shares ticked down 0.1% in after-hours trading.