StoneCo Ltd. reported its fourth-quarter financial results, revealing a revenue of R$3.25 billion ($171.6 million), falling short of the estimated R$3.42 billion. Despite the miss, the company noted a 20.1% year-over-year growth, primarily driven by a 24.4% surge in financial services platform revenues. This increase was attributed to an expanding active client base and enhanced monetization, particularly within the MSMB segment.
CEO Pedro Zinner highlighted the company's focus on "Winning in MSMBs," which resulted in significant growth in MSMB TPV (Total Payment Volume) both annually and in the fourth quarter. Additionally, banking services experienced impressive growth, with deposits reaching R$ 6.1 billion by the end of December, reflecting increased engagement and conversion of TPV into deposits.
In after-hours trading, StoneCo shares experienced a decline of 8.01%, reaching $16.07 at the time of publication.