Fintech dLocal's Q3 core profit jumps 37%, beating forecasts
Uruguayan fintech dLocal reported a 37% increase in Q3 core profit to $71.7 million, surpassing forecasts of $63.3 million. Revenues rose 52% to $282 million, exceeding the $255.4 million estimate, driven by higher payment volumes. Net profit increased 28% year-on-year to $51.8 million, despite a quarterly decline due to a $13.1 million restructuring hit in Argentina. dLocal, which became Uruguay's first unicorn in 2016, has a market cap of approximately $4.17 billion and its stock has risen 34% this year.
Nov 12 (Reuters) -
Uruguayan fintech firm dLocal (DLO.O) on Wednesday reported a 37% rise in third-quarter core profit to $71.7 million, beating analysts’ estimates of $63.3 million. Revenues for the payments provider, which operates across more than 40 emerging markets, meanwhile jumped 52% to $282 million, above the $255.4 million forecast by analysts, supported by higher payment volumes.
Net profit climbed 28% year-on-year to $51.8 million, though it slipped from the previous quarter due to a $13.1 million short-term hit from Argentina flow restructuring, which the company expects to reverse in coming quarters.
DLocal launched in 2016 and quickly became Uruguay’s first unicorn. It listed in New York in 2021, and its market capitalization currently stands at around $4.17 billion.
The stock has climbed some 34% so far this year.
