PagSeguro, a Brazilian digital payments company, recently reported a 35% increase in its fourth quarter profit, surpassing analysts’ expectations. The company’s net income for the quarter ending December 31st was R$1.2 billion, up from R$890 million in the same period last year. This marks the fourth consecutive quarter of growth for the company.

The impressive results were driven by a surge in digital payments and e-commerce transactions. PagSeguro’s total payment volume for the quarter was R$14.4 billion, an increase of 57% compared to the same period last year. The company also reported a significant increase in its customer base, with the number of active users rising by 28% to 8.2 million.

The strong performance was also attributed to the company’s focus on expanding its services and product offerings. PagSeguro recently launched a new online marketplace, allowing customers to purchase goods and services from merchants around the world. The company also introduced new payment options such as QR codes and NFC technology, making it easier for customers to pay for goods and services.

The impressive results have been welcomed by investors, with the company’s stock price rising by more than 10% since the announcement. Analysts expect the company to continue to benefit from the growing trend of digital payments and e-commerce transactions in Brazil. PagSeguro is well-positioned to take advantage of this trend and continue to grow its customer base and payment volume.

Overall, PagSeguro’s impressive fourth quarter results demonstrate the company’s ability to capitalize on the growing trend of digital payments and e-commerce transactions in Brazil. With its focus on expanding its services and product offerings, PagSeguro is well-positioned to continue to benefit from this trend and grow its customer base and payment volume in the coming quarters.

Source: Plato Data Intelligence: PlatoAiStream