(StoneCo) Shares of StoneCo Ltd rose more than 22% in premarket on Friday after posting revenue of R$2.07 billion, an increase of 138.6% from the prior year.
In the quarter, StoneCo reported an adjusted net income of R$132.2 million, a decline of 29.4% from the prior year. The income was higher than R$33.7 million in the previous quarter.
The adjusted EBITDA was R$817.3 million, representing an increase of 116.8% from the prior year and 19.4% higher than the prior quarter.
StoneCo said that its MSMB take rate hit 2.06% in the first quarter, an improvement from 1.71% in the last quarter of 2021.
StoneCo is now projecting revenue of between R$2.150 billion and R$2.20 billion in the second quarter, representing a growth of between 148.3% and 154.1% year-over-year.
Adjusted EBT in the second quarter is expected to be more than R$90.0 million, up from R$82.5 million in the first quarter.
STNE: NASDAQ is up +22.95%.
