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Uruguay’s dLocal posts 74% jump in Q2 net profit as platform grows

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Aug 22 (Reuters) – Uruguayan payments firm dLocal (DLO.O) posted a 73.5% upsurge in second-quarter net benefit from the entire year before on Monday, hitting $30.7 million as payment volumes on its platform jumped by a lot more than two-thirds.

Company revenue rose 71.6% to $101.2 million, beating the Refinitiv forecast of $98.53 million.

Dlocal’s revenue increase and a jump altogether payment volumes come because the company adds new merchants and monetizes existing ones, LEADER Sebastian Kanovich said in a news release.

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The business, which operates in 37 countries, continued expansion efforts in the next quarter, it said.

Revenue in the business’s Latin America segment grew 63% year-over-year, while a lot more than doubling in its Africa and Asia segment, which makes up about an inferior percentage of its overall revenue.

Dlocal’s second-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 47.3% to $38.2 million.

Shares in the Uruguayan company, that is listed on the U.S. Nasdaq exchange, were down around 9% in after-hours trading following the market closed Monday. The trading price has fallen steadily in the months since dLocal went public this past year, dropping 20% year-to-date.

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Reporting by Kylie Madry and Noe Torres; Editing by Brendan O’Boyle, Christian Plumb and Josie Kao

Our Standards: The Thomson Reuters Trust Principles.

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