Nu Holdings Ltd. - NU STOCK NEWS

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.

Nu Holdings Ltd. (NYSE: NU) reported outstanding Q4 2022 and full-year results, achieving a net income of $58 million and $138 million in Brazil alone. The company added 4.2 million customers in Q4, reaching a total of 75 million customers across Brazil, Mexico, and Colombia. With revenues of $1.45 billion for Q4 and $4.8 billion for FY 2022, marking a 168% YoY increase, Nu exhibited strong operational efficiency with a gross profit margin of 40%. Despite macroeconomic challenges, the company maintained low delinquency rates and improved its operating leverage, showcasing its potential for future growth.