Earnings
Home›Earnings›Results›Nu Holdings shares rebound as Q2 revenue and activity…
Nu Holdings shares rebound as Q2 revenue and activity rise
The Latin American fintech said revenue climbed 39% to $5.9 billion in the second quarter, with deposits up 18% over the past year.
Nu Holdings, the parent of Brazil’s NuBank, has rallied after posting strong results following the previous slide that saw the stock hit a 52-week low of $11.20 in June, according to analysis published by Yahoo Finance.
The article says the stock has since risen nearly 40% from that June low after weeks of gains, including a jump after Nu’s financial update released after Thursday’s market close.
Nu’s customer and usage metrics also improved, the outlet reported, with the company serving 138.9 million accounts, up 13% year over year.
Yahoo Finance added that second-quarter revenue rose 39% to $5.9 billion, driven by higher customer activity, including customer deposits up 18% over the past year and a 37% larger credit card and loan portfolio, lifting monthly average revenue per active customer to $17.10, up 22% year over year.