(Bloomberg) — StoneCo Ltd., the Brazilian payment-technology firm backed by Warren Buffett’s Berkshire Hathaway Inc., named new senior managers and issued guidance for the current quarter as it works to offset another earnings miss. The shares jumped after the announcements.
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Fourth-quarter adjusted net income was 34 million reais ($6.8 million), the Sao Paulo-based company said Thursday in a filing. That fell short of the average analyst estimate of 65.2 million reais, the fourth consecutive period that Stone posted a miss.
Among new executives is head of treasury, Diego Salgado, a former JPMorgan Chase & Co. director for Latin America debt capital markets. Stone also said it expects adjusted income before taxes for the first quarter to top 140 million reais. Chief Executive Officer Thiago Piau, 32, is working to lure back investors after a botched foray into…
