Why PagSeguro Stock Popped 11% on Friday
Shares of Brazilian online payments processor and recent initial public offering (IPO) PagSeguro Digital (NYSE: PAGS) have been on a tear -- up 74% over the past year. Friday was yet another good day for the company, with PagSeguro stock closing the day up 10.8% after reporting earnings Thursday.
PagSeguro reported per-share pro forma profits of $0.26 for fiscal Q2 2019, matching consensus estimates. Quarterly sales of $348 million topped expectations for $332 million.
Note that different data providers give different numbers for PagSeguro's revenues, probably depending on the exchange rate used and the time it's calculated. S&P Global Market Intelligence, for example, tallies PagSeguro's Q2 revenue at $355 million -- also ahead of expectations.
Source Fool.com
