Investing.com - StoneCo reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
StoneCo announced earnings per share of R$0.52 on revenue of R$2.51B. Analysts polled by Investing.com anticipated EPS of R$0.32 on revenue of R$2.5B.
StoneCo shares are down 41% from the beginning of the year and are trading at R$11.04 , down-from-52-week-high.
StoneCo shares gained 11.85% in after-hours trade the report.
StoneCo follows other major Information Technology sector earnings this month
StoneCo's report follows an earnings beat by Apple on October 27, who reported EPS of R$1.29 on revenue of R$90.1B, compared to forecasts EPS of R$1.26 on revenue of R$88.76B.
Microsoft had beat expectations on October 25 with first quarter EPS of R$2.35 on revenue of R$50.1B, compared to forecast for EPS of R$2.32 on revenue of R$49.86B.
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