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DLocal Stock Jumps 22% On Strong Q1 Results

Shares of DLocal Limited (DLO) are currently gaining over 22% on Wednesday morning after the Uruguay-based payments platform's first-quarter profit surged driven by strong volume growth.

DLO is currently trading at $23.59, up $4.34 or 22.55%, on the Nasdaq. The stock opened its trading at $21.49 after closing Tuesday's trading at $19.25. The stock has traded between $15.19 and $73.43 in the past 52-week period.

Profit for the first quarter was $26.3 million or $0.08 per share, compared with profit of $16.9 million or $0.06 per share last year.

Total Payment Volume reached $2.1 billion in the quarter, representing 127% year-over-year growth compared to $926 million in the first quarter of 2021.

Revenues in the first quarter amounted to $87.5 million, representing 117% year-over-year growth compared to $40.3 million last year.

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