StoneCo Ltd (NASDAQ:STNE) shares are trading higher Monday after the company reported upbeat third-quarter financial results on Friday.
What To Know:
StoneCo reported third-quarter adjusted earnings of 27 cents per share, beating the analyst consensus estimate of 22 cents per share. The company’s quarterly sales came in at $643.35 million, beating the consensus estimate of $610.17 million.
STNE shares are climbing higher on heavy trading volume following its earnings report. According to data from Benzinga Pro, more than 7.9 million shares have already been traded in the session, compared to the stock’s 100-day average of 4.574 million shares.
StoneCo Ltd is a provider of financial technology solutions enabling merchants to conduct electronic commerce across in-store, online, and mobile channels in Brazil.
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STNE Price Action: According to Benzinga Pro, StoneCo Ltd. shares are up 10% at $11.83 at the time of publication.
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