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Stock impact report

Why StoneCo Stock Surged This Week [Yahoo! Finance]

StoneCo Ltd. - Class A Common Share (STNE) 
Company Research Source: Yahoo! Finance
The Brazil-based fintech company's share price gained 14.2% across the week's trading, according to data from S&P Global Market Intelligence After the market closed on Tuesday, StoneCo published its fourth-quarter results, beating Wall Street's expectations for sales and earnings. The business posted sales of 3.61 billion Brazilian real (roughly $636 million), beating the average analyst estimate's call for sales of 3.58 billion real (roughly $631 million). Non-GAAP (adjusted) earnings per share came in at $0.40, beating the average analyst target by $0.06 per share. StoneCo's revenue increased roughly 11% year over year in the fourth quarter, and adjusted earnings per share increased roughly 47%. Continued customer additions and an increase in average revenue per user in the financial services unit powered sales growth in the period. Total payment volumes for small and medium-sized business customers using the company's platform rose 22% compared to the prior-year period. The bus Show less Read more
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