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StoneCo Reports Strong Growth in Q1 2024
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StoneCo Reports Strong Growth in Q1 2024

Stoneco (STNE) has released an update.

StoneCo Ltd. reports a robust first quarter in 2024, with a 75% increase in Adjusted EBT to R$568 million and a 90% surge in Adjusted Net Income to R$450 million, driven by significant growth in its MSMB TPV, including PIX P2M transactions. The company’s strategic initiatives show positive results, particularly in the integration of payment and banking services, where 80% of payment clients adopt bundled solutions, and a focus on expanding credit offerings. Despite some seasonal declines, StoneCo’s financial services and software sectors exhibit strong year-over-year revenue growth with a commitment to their 2024 and 2027 guidance.

For further insights into STNE stock, check out TipRanks’ Stock Analysis page.

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