Nu Holdings Ltd. (NYSE:NU) shares are trading higher Friday following the release of its second quarter financial results on Thursday after the market closed.
What To Know: The company reported earnings per share of 13 cents, inline with the consensus estimate and sales of $3.66 billion, missing the consensus estimate of $3.77 billion.
"In Q2’25, we achieved another quarter of robust growth, expanding our customer base to nearly 123 million with over 4.1 million net additions, and maintaining an activity rate above 83%," said David Vélez, founder and CEO of Nubank. "This strong engagement drove revenues to $3.7 billion and allowed us to nearly triple our quarterly net income to $637 million in the past two years."
Customer growth accelerated across multiple markets, with Brazil reaching 107.3 million customers, over 60% of the country's adult population, and Mexico growing to 12 million customers. In Colombia, the customer base climbed to 3.4 million, with deposits up 841% year-over-year on a foreign exchange-neutral basis.
Net income increased 42% year-over-year FXN to $637 million, while adjusted net income rose to $694.5 million. Deposits grew 41% year-over-year FXN to $36.6 billion, and total receivables expanded 40% year-over-year FXN to $27.3 billion. The company's net interest income hit a record $2.1 billion, up 33% from a year ago.
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NU Price Action: At the time of writing, Nu shares are trading 10.07% higher at $13.22, according to data from Benzinga Pro.
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