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Fintech company dLocal Ltd (NASDAQ:DLO) reported its second-quarter financial results Wednesday. Here's a look at the details from the report.
The Details: dLocal reported quarterly earnings of 15 cents per share, which beat the analyst consensus estimate by 50%. However, quarterly revenue of $171 million missed the analyst consensus estimate of $207.14 million by 17.45%.
The company said the quarter-over-quarter revenue decline was mostly driven by the currency devaluation in Nigeria and Egypt, despite healthy Total Payment Volume (TPV) growth.
Total Payment Volume (TPV) reached a record $6 billion in the second quarter, up 38% year-over-year and up 14% compared to the first quarter of 2024. dLocal described the TPV growth as healthy and sustained across multiple verticals, including continued strong growth in commerce, on-demand delivery and remittance verticals and accelerating growth from SaaS and ride-hailing.
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“Taking a step back from a short-term quarterly prism, dLocal remains an incredibly strong company, with a fantastic total addressable market, attractive business model and extremely promising future, that at some point will be reflected in capital market performance,” the company wrote in its earnings press release.
Outlook: dLocal revised its full-year outlook and now expects TPV of between $24.5 billion and $26.5 billion due to slower volume ramp-ups, pipeline volume even more skewed towards Tier 0 merchants and weakening currencies in emerging markets.
DLO Price Action: According to Benzinga Pro, dLocal shares are up 0.02% after-hours at $7.76 at the time of publication Wednesday.
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Image: Courtesy of DLocal Limited
Posted In: DLO
