DLocal Stock Surges Into The Close On Earnings Leak, Continues To Climb After Hours: What's Going On?

DLocal Limited DLO shares soared late Tuesday after the company reported second-quarter financial results.

What Happened: DLocal shares were halted ahead of the close after the company's quarterly report was leaked. Shares surged more than 13% and continued to move higher after hours on better-than-expected results.

DLocal said second-quarter revenue increased 59% year-over-year to $161.1 million, which beat the consensus estimate of $151.18 million, according to Benzinga Pro. 

It reported quarterly earnings of 15 cents per share, which beat estimates of 13 cents per share. Total payment volume increased 80% year-over-year, gross profit climbed 43%, and adjusted EBITDA jumped 36%. 

DLocal said it also appointed Pedro Arnt as co-CEO. 

"Our merchants recognize the value we add to their business, propelling our growth alongside theirs. During the quarter we experienced strong traction with our platform solution, in particular from marketplaces," said Sebastian Kanovich, co-CEO of dLocal.

DLocal reaffirmed its full-year revenue guidance of $620 million to $640 million versus estimates of $631.43 million. The company expects full-year adjusted EBITDA to be in the range of $200 million to $220 million. 

Management will hold a conference call to discuss these results at 8 a.m. on Wednesday.

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DLO Price Action: DLocal shares closed Tuesday up 13.4%. Shares were up another 32.8% after hours at $20.60 at the time of publication, according to Benzinga Pro.