StoneCo's Fourth-Quarter Results and Founder's Resignation Impact Stock Price

Tuesday, 19 March 2024, 23:20
StoneCo recently announced its mixed fourth-quarter results, leading to a significant drop in stock price. The company reported a 20.1% year-over-year growth in revenue but fell short of earnings expectations. Additionally, the impending resignation of one of StoneCo's founders added to investor concerns.
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StoneCo's Fourth-Quarter Results and Founder's Resignation Impact Stock Price

StoneCo's Fourth-Quarter Results

StoneCo revealed mixed Q4 2023 results with revenue up 20.1% to 3.25 billion Brazilian reals ($645.4 million) and adjusted earnings per share of 1.76 reals ($0.35).

The Impact on Stock Price

Shares fell due to the unexpected results, with revenue missing analysts' expectations and software revenue declining.

Founder's Resignation

The impending resignation of founder André Street added to investor unease, despite positive outlook for 2024.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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