StoneCo (STNE) Slashes 11.63% Ahead of Q2

We recently published These 10 Stocks Fell Hard. Are You Holding Any? StoneCo Ltd. (NASDAQ:STNE) is one of this week’s top performers.

StoneCo fell by 11.63 percent week-on-week to end Friday’s trading at $13.67 versus the $15.47 finish on July 11, as investors repositioned portfolios ahead of the release of its second quarter earnings performance.

In a statement earlier this month, StoneCo Ltd. (NASDAQ:STNE) said it will announce the results of its earnings on August 7 after market close, to be followed by a conference call at 5 PM Eastern Time.

In the first quarter of the year, StoneCo Ltd. (NASDAQ:STNE) saw net income increase by 38.3 percent to R$516.7 million from R$373.6 million in the same period last year.

Total revenues rose by 19 percent to R$3.669 billion from R$3.084 billion year-on-year.

For the second quarter, Zacks Research expects StoneCo Ltd. (NASDAQ:STNE) to post earnings of $0.34 per share, or a 13.33 percent growth year-on-year.

Meanwhile, full-year EPS was pegged at $1.44 with revenues of $2.73 billion, representing growth of 6.67 percent and 10.94 percent, respectively.

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