(Reuters) – Uruguayan payments firm dLocal posted a higher third-quarter net profit compared with last year as payment volumes on its platform jumped, the company said in a statement on Monday.
Profit rose by nearly two-thirds to $32.3 million. That compares with $19.7 million during the same period last year.
DLocal, which operates in more than three-dozen countries across the globe, handles online payments in emerging markets.
Company revenue during the July to September period increased 63% to $111.86 million from the year-ago quarter, dLocal said, beating the Refinitiv estimate of $110.1 million.
The company pointed to solid revenue growth from both new and existing customers.
DLocal’s third-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 58% to come in at $41.62 million, beating the Refinitiv forecast of $37.41 million.
“Growth has been supported by … our business strength of continuous diversification across verticals, regions, and products,” Chief Executive Sebastian Kanovich said in a statement from the company, which was founded in Uruguay and is listed on the U.S.-based Nasdaq stock exchange.
(Reporting by Kylie Madry and Noe Torres in Mexico City; Editing by David Alire Garcia and Matthew Lewis)
