DLocal shares surged 33% to $20.70 in post-market trading on Tuesday after the company reported second-quarter results that topped estimates and maintained its revenue guidance for this year.
The stock ended market trading up 13% at $15.50, and is down 0.5% this year.
The online payments company posted a profit of $44.8 million, or 15 cents a share, for the second-quarter ended June 30, compared to $30.7 million, or 10 cents a share, a year earlier.
Revenue surged to $161.1 million in the period from $101.2 million a year ago. Analysts polled by FactSet expected $149.4 million.
DLocal affirmed its guidance for revenue this year of $620 million to $640 million. Co-Chief Executive Sebastian Kanovich said the company is trading toward the higher end of its guidance, but prefers to take a conservative approach given the macroeconomic environment.
The Uruguay-based company said it grew in Brazil, which was its first market in 2016, adding that the country still presents growth opportunities. Africa and Asia also grew, while certain smaller markets grew at triple-digit rates, the company said.