Warren Buffett-Backed Nu Holdings Slides On Q4 Earnings: The Details
Portfolio Pulse from Adam Eckert
Nu Holdings Ltd (NYSE:NU) reported a 57% increase in Q4 revenue year-over-year to $2.4 billion, with net income of $360.9 million. The company added 4.8 million customers, reaching 93.9 million. Deposits grew 38% to $23.7 billion. CEO David Vélez highlighted efforts towards surpassing 100 million customers in 2024, focusing on growth in Brazil, Mexico, and Colombia. Warren Buffett's Berkshire Hathaway maintains a stake in Nu Holdings. Post-earnings, NU shares dropped 5.31% in after-hours trading.
February 22, 2024 | 10:09 pm
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Nu Holdings reported a significant increase in Q4 revenue and net income, with substantial customer and deposit growth. Despite positive results, shares fell 5.31% after-hours.
The drop in NU shares post-earnings, despite positive financial results and growth metrics, suggests a short-term negative market reaction. This could be due to market expectations being higher than the reported results or other external factors not detailed in the article.
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