trending Market Intelligence /marketintelligence/en/news-insights/trending/Z7p-zGCgczp9AUB-qbW-ag2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

StoneCo's Q2 profit up 172.7% on robust operating results, additional IPO gains

Digital Banking Battles Will Play Out In Southeast Asias Shopping Cart

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Fed Officials Signal Optimism In US Economy Reiterate Rates Likely On Hold

After Curbing Year-End Volatility, Fed Weighs Future Of Repo Operations

StoneCo's Q2 profit up 172.7% on robust operating results, additional IPO gains

StoneCo Ltd.'s second-quarter 2019 profit jumped 172.7% from a year earlier, underscored by solid results from the company's core operations and a significant rise in other financial income due to interest gains from its 2018 IPO.

The Brazilian company, which operates payment processor Stone Pagamentos SA, booked net income of 171.9 million reais, up from 63.0 million reais in the 2018 period. Second-quarter adjusted net income, which excludes noncore items, came to 194.0 million reais, up from 71.1 million reais in the year-ago period.

The company's total revenue and income rose 68.6% year over year to 586.2 million reais, driven by a 62.0% increase in financial income, which hit 297.2 million reais. Net revenue from transaction activities and other services climbed 55.7% to 177.3 million reais. Net revenue from subscription services and equipment rental also grew 60.3% to 74.6 million reais.

Other financial income surged 879.0% to 37.1 million reais, boosted by interest income from the IPO proceeds on StoneCo's cash balance and short-term investments.

Administrative expenses grew 32.4% annually to 77.4 million reais. Cost of services reached 100.8 million reais, up 43.5%.

At the end of the second quarter, StoneCo had a record-number 360,200 active clients, up 79.5% from a year earlier.

As of Aug. 13, US$1 was equivalent to 3.97 Brazilian reais.