StoneCo Ltd (NASDAQ: STNE) has been on a growth trajectory for the better part of the year. Today, the company is trending upwards and at the time of writing, it was up by 0.84%. A few days ago, the company announced its Q3 results and though it missed analysts’ estimates, it still recorded growth. It recorded an EPS of $0.17 in Q3 while analysts were expecting an EPS of $0.18. However, the results were much higher than the EPS of $0.10 that the company recorded in the same quarter last year.
However, revenues were much better than what analysts were expecting. In Q3, the company posted revenues of $169.33 million, and beat analysts’ expectations by 28.86%. The company’s revenue also was significantly higher than a year ago when it posted revenues of $105.13 million in the same quarter.
The company also noted that, its client numbers were on a growth trajectory. As of Q3, the company had hit an active customer base of 428k. To grow these numbers, StoneCo announced that it will continue to develop new software and financial solutions for its clients. For instance, the company announced that it will be releasing an integrated financial platform in Q1 of 2020.
The company’s management also noted that they are focused on client retention. This is done through delivery of value to the clients, and through a differentiated approach to value delivery. The company also announced that it was looping in talented people into the company. It has announced that in 2019, it received over 100k applications, a figure much higher than the 18k applications it received in 2018.
Looking at the charts, StoneCo is trading in a bullish channel. Volumes are quite high too and stand at 1.13 million at the time of writing.
About StoneCo Ltd
StoneCo Ltd is a financial technology solutions provider. It offers its services through proprietary hubs, and as of 2018, it served over 260k people. The company has its headquarters in Sao Paulo, Brazil.