DLocal nabs MercadoLibre veteran as co-CEO, stock surges
Shares of financial-technology company DLocal Ltd. (DLO) were surging about 30% higher in after-hours trading Tuesday after the company named Pedro Arnt its co-chief executive. Arnt previously worked as the chief financial officer at Latin American e-commerce giant MercadoLibre Inc. (MELI). "We view the onboarding of Arnt, a widely respected payments leader, as a positive and a steady hand on the DLO tiller," Barclays analyst John Coffey wrote. Additionally, Uruguay-based DLocal reported better-than-expected second-quarter financial results, including GAAP earnings per share of 15 cents, up from 10 cents a year before. The FactSet consensus was for 13 cents. DLocal's revenue increased to $161.1 million from $101.2 million, while analysts had been modeling $149.4 million. "Our performance demonstrates the distinctive advantages of our business, from our cutting-edge technology and broad and well-diversified geographic reach to our excellent sales execution and vast market opportunity," Co-Chief Executive Sebastian Kanovich said in a release. DLocal shares advanced more than 13% in Tuesday's regular session.
-Emily Bary
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
08-15-23 1932ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now