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PagSeguro Digital Stock Down 18% After Reporting Quarterly Results

Shares of PagSeguro Digital Ltd. (PAGS) are slipping over 18% on Wednesday morning after reporting third-quarter results.

PAGS is currently trading at $9.75, down $2.26 or 18.82%, on the Nasdaq. The stock opened its trading at $12.25 after closing Tuesday's trading at $12.01. The stock has traded between $9.45 and $29.28 in the 52-week period.

PagSeguro reported third-quarter net income of R$380 million or R$1.16 per share, compared to R$321 million or R$0.97 per share last year. Adjusted income was R$411 million, down from R$419 million last year.

Total revenue and income for the quarter was R$4.04 billion, up 45% from $2.78 billion last year.

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