Nu Holdings Surges 8% After Record $1.1B Profit Crushes Estimates
NU sits 35% above its 52-week low of $11.2.
Summary
Nu Holdings delivered a record $1.1 billion quarterly net income, up 49% year-over-year, beating the $967.2 million consensus. EPS of $0.22 topped estimates by 13.7%, and GAAP revenue of $5.51 billion edged past the $5.47 billion forecast. The stock jumped 8.34% in after-hours trading to $15.09, adding to a 2.73% regular-session gain. This follows the company's August launch in Mexico, where it became the largest digital bank with 16 million customers, and receipt of a full banking license in Brazil. Credit portfolio grew 37% to $39.4 billion and deposits reached $45.3 billion, with return on equity at 33%. The after-hours move reflects fresh investor reaction to the beat and management's commentary on reaching a billion-dollar quarterly profit milestone.
At the time of this announcement, NU was trading at $15.09 on NYSE in the Finance sector, with a market capitalization of approximately $67.3B. The 52-week trading range was $11.20 to $18.98. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.