StoneCo has a 13% drop in 1st quarter profit

Payment media company StoneCo said on Tuesday that it had an adjusted profit of R$ 162.3 million ($ 29 million) in the first quarter, down 12.9% from the same period last year, reflecting the economic effects of Covid-19. But the Nasdaq-listed Brazilian company said its active customer base rose 73.9% in 12 months through March, and that total revenue advanced 33.8%, to R$ 716.8 million ($ 130 million).

Source: UOL Economia