Shares of PagSeguro Digital Ltd. (PAGS) surged 5.15% in the pre-market session on Friday, following the company's impressive fourth-quarter and full-year 2024 financial results that exceeded analysts' expectations.
PagSeguro, a leading digital bank offering a comprehensive suite of financial services and payment solutions, reported record net profits of R$2.3 billion in 2024, driven by consistent growth across all business lines. The company's net revenue for the fourth quarter reached R$5.1 billion, an 18% increase compared to the same period in 2023, while net income surged 21% year-over-year to R$631 million.
The strong performance was fueled by a growing customer base, which reached 33.2 million customers by the end of 2024, an increase of 2.1 million customers during the year. Additionally, the total payment volume (TPV) reached R$146 billion in the fourth quarter, representing a 28% year-over-year growth, and totaled R$518 billion for the full year, reflecting a 32% increase compared to 2023.
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