Nu Holdings Q2 Earnings: Warren Buffett-Backed Bank Posts Upbeat Quarter, Stock Jumps After Hours
Portfolio Pulse from Adam Eckert
Nu Holdings Ltd (NYSE:NU) reported strong Q2 earnings with a 65% increase in revenue to $2.8 billion and a significant rise in adjusted net income to $563 million. The company added 5.2 million customers, bringing the total to 104.5 million, and saw a 64% increase in total deposits. Shares jumped 6.81% in after-hours trading.
August 13, 2024 | 8:46 pm
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Nu Holdings reported a strong Q2 with a 65% increase in revenue and a 114% rise in adjusted net income. The company added 5.2 million customers and saw a 64% increase in total deposits. Shares rose 6.81% in after-hours trading.
The strong financial performance, significant customer growth, and positive market reaction indicate a likely short-term increase in NU's stock price. The company's robust revenue and net income growth, along with a substantial rise in total deposits, highlight its strong business model and market position.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100