Brazil's StoneCo drops after Q2 earnings miss analyst expectations
STNE•StoneCo shares fall after Q2 miss
U.S.-listed shares of Brazilian payments firm StoneCo (STNE.O) fell 4.6% to $9.70 in early trading.
STNE reported second-quarter revenue of R$3.6 billion ($689.80 million) on Thursday, below analysts' estimates of R$3.7 billion, according to data compiled by LSEG.
Net profit of R$583 million also lagged estimates of R$600 million ($114.97 million).
Nine of 16 analysts rate the stock "strong buy" or "buy", six rate it "hold" and one rates it "sell"; their median price target is $15, according to LSEG data.
Including the session's move, the stock is down 21.7% year to date.
($1 = 5.2189 reais)
