Nu Holdings Jumps 13% After Q2 Revenue Hits $5.51 Billion
Updated
Updated · Yahoo Finance · Aug 14
Nu Holdings Jumps 13% After Q2 Revenue Hits $5.51 Billion
3 articles · Updated · Yahoo Finance · Aug 14
Summary
Nu Holdings shares opened 13% higher after the Nubank parent beat Wall Street in Q2 with adjusted EPS of $0.22 on $5.51 billion in revenue, topping forecasts of about $0.20 and $5.39 billion.
Revenue rose 50% year over year and payment volume climbed 30.3%, showing customers are using the platform more heavily even as the company keeps adding users.
Nu added 4 million customers in the quarter, lifting its global base to 139 million; Mexico grew 31.7% and Colombia 55.9%, while return on equity held at 33% and the efficiency ratio stayed low at 19.5%.
Mexico is emerging as the next growth driver after regulators granted Nu a full banking license, and management also outlined a U.S. push that could take 12 to 30 months to build out credit capabilities.