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Why StoneCo Stock Is Surging Today

TheMotleyFool

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Shares of StoneCo (NASDAQ: STNE) are making big gains in Friday's trading. The fintech stock was up roughly 8.1% as of 11:40 a.m. ET following the company's recent first-quarter earnings release.

StoneCo published Q1 results after the market closed on Thursday, posting a performance that came in above the market's expectations. The company recorded non-GAAP (adjusted) earnings per share of 0.43 Brazilian reals on revenue of 2.07 billion reals, and its forward guidance was also significantly better than anticipated.

Image source: Getty Images.

Source Fool.com

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