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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100