Fintech dLocal posts 28% rise in second quarter profit
DLO•Business exposure in emerging markets
dLocal focuses on emerging markets across Latin America, Africa and Asia, where it facilitates transactions for merchants including Amazon AMZN.O, Uber UBER.N and Spotify SPOT.N.
It makes the bulk of its income from Latin America, notably Brazil, Mexico and Argentina.
Second-quarter profit and revenue growth
Aug. 13 (Reuters) - Uruguayan fintech dLocal DLO.O on Thursday reported a 28% year-on-year rise in its second-quarter net profits to $54.8 million, falling short of analysts' estimates of $56.1 million.
Net profit climbed 31% from the previous quarter, which the company said was due to higher operational profit and lower tax expenses.
Revenues for the payments provider, which operates across more than 40 emerging markets, jumped 56% to $399.7 million, above the $368.8 million forecast by analysts.
Operating profit, gross profit and payment volume
Its operating profit, a measure it began using this year, increased 15% from $55.8 million last year to $64.2 million, with gross profit up to a record from , it said.
