Uruguay-based financial-technology company DLocal Ltd. (DLO) experienced a notable increase of about 30% in its stock price during after-hours trading on Tuesday. This surge came shortly after the announcement that Pedro Arnt has been appointed as the co-chief executive of the organization. Arnt, who previously served as the chief financial officer at Latin American e-commerce giant MercadoLibre Inc. (MELI), is widely regarded as a respected leader in the payments industry.
Barclays analyst John Coffey expressed optimism about Arnt’s appointment, describing it as a positive move for DLocal. Coffey believes that Arnt’s experience and expertise will provide stability and guidance to the company.
Furthermore, DLocal reported impressive second-quarter financial results, surpassing expectations. The company’s GAAP earnings per share increased from 10 cents last year to 15 cents. The FactSet consensus had estimated earnings per share of 13 cents. DLocal’s revenue also saw substantial growth, rising from $101.2 million to $161.1 million. Analysts had predicted revenue of $149.4 million.
In response to the successful financial results, Co-Chief Executive Sebastian Kanovich highlighted the unique advantages offered by DLocal. Kanovich emphasized the company’s cutting-edge technology, wide geographical reach, effective sales execution, and significant market opportunities.
During Tuesday’s regular trading session, DLocal shares experienced a separate increase of over 13%.
Key Details at a Glance:
- DLocal Ltd. (DLO) appoints Pedro Arnt as co-chief executive.
- Arnt brings extensive experience as the former CFO of MercadoLibre Inc. (MELI).
- Barclays analyst John Coffey views Arnt’s appointment as positive for DLocal.
- DLocal reports better-than-expected second-quarter financial results.
- GAAP earnings per share increase from 10 cents to 15 cents.
- Revenue rises from $101.2 million to $161.1 million.
- Co-Chief Executive Sebastian Kanovich highlights the company’s advantages.
- DLocal shares surge more than 30% in after-hours trading.
- Separate increase of over 13% observed during regular trading session.