Shares of DLocal Limited (NASDAQ:DLO) plunged more than 8% intra-day today following the announcement of their third-quarter results. The company reported earnings per share (EPS) of $0.13, which fell short of the expected $0.15. Although revenue increased by 47% compared to the same period last year, reaching $163.9 million, it did not meet the anticipated $166 million.
DLocal achieved a record Total Payment Volume (TPV) of $4.6 billion in the third quarter, marking a significant 69% growth from the previous year.
Despite these results, the company maintained its forecast for the full year. It expects revenue to be in the range of $620 million to $640 million, which is below the Street estimate of $645.96 million.
Additionally, the company announced a major change in its executive team: CFO Diego Cabrera Canay has decided to resign from his role to explore new opportunities.