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StoneCo | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Mar 19 05:01
Summary by Futu AI
StoneCo Ltd., a leading financial technology company, reported its financial results for the fourth quarter and fiscal year 2023 on March 18, 2024. The company saw a strong quarter with Adjusted EBT reaching R$638 million, a 132% increase year over year, and Adjusted Net Income of R$564 million, up 177% from the previous year. These results were driven by a 20% growth in MSMB TPV. The CEO expressed gratitude to shareholders and highlighted strategic milestones that have strengthened StoneCo's market position. The report also detailed the company's strategic focus, including organizational structure redesign, cost management, and the creation of the Stone Platform. StoneCo's banking services showed significant growth, with deposits reaching R$6.1 billion by the end of December. The company also announced leadership transitions, with the founder Andre Street stepping down as chairman, and the nomination of new board members for the upcoming AGM in April 2024.
StoneCo Ltd., a leading financial technology company, reported its financial results for the fourth quarter and fiscal year 2023 on March 18, 2024. The company saw a strong quarter with Adjusted EBT reaching R$638 million, a 132% increase year over year, and Adjusted Net Income of R$564 million, up 177% from the previous year. These results were driven by a 20% growth in MSMB TPV. The CEO expressed gratitude to shareholders and highlighted strategic milestones that have strengthened StoneCo's market position. The report also detailed the company's strategic focus, including organizational structure redesign, cost management, and the creation of the Stone Platform. StoneCo's banking services showed significant growth, with deposits reaching R$6.1 billion by the end of December. The company also announced leadership transitions, with the founder Andre Street stepping down as chairman, and the nomination of new board members for the upcoming AGM in April 2024.
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