DLocal Ltd DLO shares were trading lower in Tuesday's after-hours session after the company reported worse-than-expected quarterly results and reaffirmed guidance below estimates.
- Q3 Revenue: $163.92 million missed estimates of $168.51 million
- Q3 EPS: 13 cents missed estimates of 15 cents
Revenues were up 47% year-over-year. Total payment volume grew to $4.6 billion in the third quarter, up 69% on a year-over-year basis.
"During Q3, we experienced sound growth across all verticals. We continue to see particularly strong traction with our platform solution," said Pedro Arnt, co-CEO of dLocal.
"We remain focused on delivering sustained gross profit growth."
DLocal reaffirmed its full-year 2023 revenue guidance of $620 million to $640 million versus estimates of $645.96 million, according to Benzinga Pro.
The company also announced that CFO Diego Cabrera Canay decided to step down from his position to pursue other opportunities. The departing CFO will stay with the company through the first quarter of 2024 to help ensure a smooth transition.
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DLO Price Action: DLocal shares were down 1037% after hours at $16.86 at the time of publication Tuesday.
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