StoneCo Inc. (STNE) stock plunged during after-hours trading post financial results.

StoneCo Inc. (NASDAQ: STNE) stock gained by 1.12% at the last close, whereas the STNE stock price declined by 10.30% in the after-hours trading session. Stone Co. is a major provider of financial technology and software services that assist merchants to develop their businesses by enabling them to do trade seamlessly across different channels.

STNE stock’ Financial Highlights

StoneCo announced its financial results for the third quarter of 2021. Given below are the highlights:

  • For the third quarter of 2021, the total Revenue and Income was R$1,469.6 million, up 57.3 percent from R$934.3 million in the third quarter of 2020, with Linx’s results contributing to the period’s total.
  • Administrative expenses were R$359.8 million, up 238.9% year on year. Administrative Expenses, excluding Linx consolidation, were R$292.3 million, up 175.3 percent year over year.
  • In the third quarter, selling expenses totaled R$308.2 million, an increase of 120.9 percent year over year. Selling Expenses were R$256.2 million, a rise of 83.6 percent year over year, without Linx consolidation.
  • In the third quarter, adjusted EBITDA was R$473.3 million, down 8.0 percent from the third quarter of 2020.
  • In the third quarter of 2021, Adjusted Net Income totaled R$132.7 million, compared to R$287.9 million in the third quarter of 2020.
  • For Q3 of 2021, the company lost R$1,260.2 million, compared to R$249.1 million in the third quarter of 2020. This decline was primarily attributable to the same variables that caused the fluctuation in Profit before Income Taxes noted before.

Thiago Piau, CEO commented,

StoneCo has been a publicly traded corporation for three years. This milestone prompts them to consider how far they’ve in such little time, as well as the skills they’ve learned since their inception.

Their mission is to assist Brazilian entrepreneurs in turning their visions into reality. Any merchant who wakes up in the morning to construct a dream, in their opinion, is an entrepreneur. As business owners themselves, they are honored to serve them and assist them in turning their dreams and goals into reality. First and foremost, they put their clients’ needs first. They unite them and are the driving force behind everything they do.