StoneCo shares fell 4.5% after the company delivered a cautious outlook amid ongoing challenges from elevated interest rates and only modest reacceleration in TPV growth, signaling investor disappointment with the pace of recovery and margin pressures. Despite credit portfolio growth, investors reacted negatively to the tempered guidance and slow progress on key metrics.
- TPV growth accelerated slightly to 4% year-over-year, but remains subdued and continues to be weighed down by elevated churn, especially among larger merchants.
- Credit portfolio doubled year-over-year to BRL 3.8 billion, including BRL 300 million government-backed loans and BRL 400 million in credit cards, driving a 14% increase in credit revenues.
- Adjusted gross profit remained broadly stable at BRL 1.6 billion as higher revenue was offset by increased provisions associated with credit portfolio expansion.
- Retail deposits grew over 20% to BRL 10.8 billion, supporting banking franchise expansion.
- Management maintained full-year guidance but noted a more challenging macro environment with higher interest rates persisting, focusing on delivery at the lower end of prior ranges and expecting performance improvements only later in the year.
Community Discussion