Business
StoneCo Reports Fourth Quarter and Fiscal Year 2020 Financial Results
GEORGE TOWN, Grand Cayman, March 11, 2021 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”), a leading provider of financial
About this update from Stoneco Ltd.
[{"type":"text","content":"GEORGE TOWN, Grand Cayman, March 11, 2021 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE) (“Stone” or the “Company”), a leading provider of financial technology solutions that empower merchants to conduct commerce seamlessly across multiple channels, today reports its financial results for its fourth quarter and fiscal year ended December 31, 2020. “Dear Shareholder, 2020 has been a year of great achievements despite all the challenges imposed by the pandemic. I believe we balanced disciplined execution and capital allocation with very important strategic steps, continuing to deliver strong results. Our team did a great job and today we are bigger and better than we were a year ago. We continued to present strong profitable growth and long-term value generation. We believe that creating a strong moat is very important and our moat is based on empowering small and medium businesses to win through 3 important strategic steps, two of which we are already executing well and the third one is becoming a new dream for us. First, we want to delight our clients and gain their trust by offering a complete set of financial solutions through a world class technology and service, replacing their existing banking relationship and becoming the dominant financial provider for SMBs in Brazil. Our Stone and Pagar.me teams are working hard to accomplish this goal every single day, building an amazing culture of talented people and client obsession. We also want to offer enterprise-level workflow tools to empower our clients to better manage their businesses, driving operational efficiency and connecting them to online channels so they can sell more. We started this second act of our business almost two years ago and we are happy to see great evolution of our team towards this direction. The investments we made and the acquisition of Linx put us in a unique strategic position to achieve this goal. We are working hard to make sure the team achieves the same levels of client satisfaction and disciplined execution we were able to build in Stone and Pagar.me. The third strategic step, and this challenge we still have to tackle, is to answer a very simple question: how can we drive more customers to our merchants? How can we incentivize consumers to shop in our merchant base? We can now start dreaming about answering this question and we know that data ...