Nu Holdings Ltd. - NU STOCK NEWS

Nu Holdings Ltd. released its Second Quarter 2023 financial results, reporting a record revenue of $1.9 billion and net income of $225 million. The company added 4.6 million customers in Q2’23, reaching a total of 83.7 million customers globally. Nu's Monthly Average Revenue per Active Customer (ARPAC) reached $9.3, surpassing $9 for the first time. The company's efficiency ratio achieved 35.4%, and its 15-90 NPL ratio decreased to 4.3%. Nu's gross profit expanded to $782 million, with a gross profit margin of 42%. The company has a Basel Index of 20.2% in Brazil and $2.4 billion in excess cash.

Nu Holdings Ltd. surpasses 80 million customers in Brazil and reaches 85 million customers across Latin America. The company is now the 4th largest financial institution in Brazil. Nubank's sustained growth is driven by its digital business model and focus on customer service. Nu also serves 4.5 million customers in Mexico and Colombia. The company's financial results show consistent improvement, with net income of $142 million in Q1'23 and revenue nearly doubling year over year.

Nu Holdings Ltd. (NYSE: NU | B3: NUBR33) will host a conference call to discuss its Q2'23 financial results on August 15, 2023, at 5:00 p.m. Eastern Time. The earnings release will be issued after the market closes on the same day.

Nubank reported strong growth in Q1 2023, reaching over 80 million customers across Latin America, with Brazil contributing significantly to this expansion. The number of investor customers in Brazil surged by 130% year-over-year, totaling over 9.2 million, leading to a 36% increase in assets under custody (AuC), amounting to R$ 47.6 billion (approximately US$ 9.6 billion). Nubank's SME segment also grew impressively, with over 2.7 million entrepreneurs using Nubank PJ accounts, reflecting a 66% rise. The company's continued focus on diversifying its product offerings, particularly through the introduction of NuConsignado payroll-deductible loans, showcases its commitment to enhancing customer engagement and portfolio diversification.

Nu Holdings Ltd. (NYSE: NU) announced a conference call for discussing its Q1'23 financial results scheduled for May 15, 2023, at 5:00 p.m. Eastern Time. The earnings release will precede this call, being issued after the market closes on the same day. This event follows a Quiet Period that begins on May 1, 2023. Nu Holdings, a leading digital financial services platform, serves 80 million customers in Brazil, Mexico, and Colombia, focusing on simplifying financial solutions for individuals and SMEs. The company emphasizes its commitment to create value and impact through accessible financial services.

Nubank, a leading digital banking platform, appointed David Marcus to its Board of Directors. Marcus, known for his roles at Meta and PayPal, brings extensive experience in technology and financial services. He is expected to contribute significantly to Nubank's growth strategy across multiple countries and product segments. Recently, Nubank reported record profits, with a net income of $138 million in Brazil and an annualized ROE of 35%. This appointment aims to leverage Marcus's insights to enhance Nubank's innovation and market reach.

Nu Holdings Ltd. (NYSE: NU) reported its Q4 and FY 2022 financial results, showcasing substantial growth across key metrics. The company achieved a net income of over $58 million in Q4, excluding a one-time non-cash effect, while total revenues reached $1.45 billion for the quarter and $4.8 billion for the year, marking a 168% YoY increase. Nu also expanded its customer base to 75 million, with significant gains in Brazil, where it reported a net income of $138 million and an annualized ROE of 35%. The company's gross profit margin improved to 40%, highlighting its operational efficiency.