Why Nu Holdings Shares Are Higher Today
Portfolio Pulse from Lekha Gupta
Nu Holdings Ltd (NYSE:NU) shares are trading higher after the company reported better-than-expected Q2 FY23 results. The company posted a 60% Y/Y revenue growth to $1.87 billion, beating the consensus of $1.75 billion. Nu added 4.6 million customers in Q2, reaching 83.7 million globally. Gross profit expanded to $782 million, up 113% Y/Y, with the margin rising to 42% from 31% a year ago. Adjusted net income rose to $262.7 million from $17.0 million prior year. The company's Q2 EPS was $0.0464 vs. EPS loss of $(0.0064) the prior year.
August 16, 2023 | 12:47 pm
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Nu Holdings Ltd reported better-than-expected Q2 FY23 results, leading to a rise in its share price. The company's strong financial performance, including significant revenue growth and profit expansion, is likely to positively impact its stock in the short term.
The company's better-than-expected Q2 FY23 results, including significant revenue growth and profit expansion, are likely to positively impact investor sentiment and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100