PagSeguro Digital sees Q3 non-GAAP net income R$522M-R$537M
In a regulatory filing earlier, PagSeguro Digital announced preliminary operational and financial results for the third quarter of 2019. PagBank active users at September 30, 2019 is expected to be approximately 1.9 million, compared to 1.4 million at June 30, 2019. Total Payment Volume, or TPV, for the three months is expected to be approximately R$29.4B, compared with R$20.3B for the three months ended September 30, 2018. Net take rate for the three months ended September 30, 2019 is expected to be approximately 3.11%, remaining stable compared with previous three-month periods in 2019. Non-GAAP net income for the three months is expected to be between R$377.5M and R$387.5M, compared with R$290.4M for the three months ended September 30, 2018 "In the third quarter of 2019, we continued to deliver strong results combining growth and profitability leading to significant advancements in our strategic roadmap. Our preliminary results and key operational highlights for 3Q19 demonstrate our continued focus on execution and performance on our platform. We are particularly pleased with the rapid evolution and strong performance of our long-tail market strategy, well ahead of our original net additions plan of 1 million new clients for the year. We are also very enthusiastic by the progress and positive feedback from our clients in connection with our new solutions in digital banking, PagBank, with 1.9 million active users at the end of 3Q19. Furthermore, our current scale and operational leverage has allowed us to continue growing PagBank ahead of expectations while delivering profitability. We are happy to see the continued commitment and strengthening of our management team, which remains 100% focused on servicing our customers. We are all very excited with the prospects of the blue ocean in the long-tail market ahead of us, which combined with PagBank's total addressable market, increases our potential addressable market by 14x.," said Ricardo Dutra, CEO of PagSeguro.