Summary by Moomoo AI
StoneCo delivered robust financial performance in H1 2024, with net income reaching R$871.9M, up 63.6% YoY. Total revenue increased 11% YoY to R$6.29B, driven by growth in financial income and transaction activities. The company maintained strong operational efficiency with improved cost management.The Financial Services segment generated R$874.7M in adjusted net income, while the Software segment contributed R$71.7M. The company strengthened its balance sheet position with cash and equivalents of R$4.74B as of June 30, 2024. Additionally, StoneCo repurchased 3.2M Class A shares for R$236.5M during H1 2024.In a subsequent development, StoneCo completed a tender offer for its 3.95% senior notes due 2028 on July 31, 2024, repurchasing 58.91% of the outstanding US$500M principal. The company also continued its share buyback program in July, acquiring 9.67M Class A shares for R$724.2M.