Stock Track | Nu Holdings Plummets 8.78% in Pre-Market on Q1 Earnings Miss, Rising Provisions and Cautious US Expansion Outlook

Stock Track05-15 22:07

Nu Holdings Ltd. (NU) shares plummeted 8.78% in pre-market trading on Friday, as the Brazilian fintech reported first-quarter financial results that fell short of profit expectations.

The company posted quarterly earnings of 18 cents per share, missing the analyst consensus estimate of 19 cents per share. While revenue showed strength in some reports, other analyses indicated a revenue miss, with the company reporting $4.97 billion against expectations of $5.06 billion. The earnings shortfall was attributed to higher provisioning charges linked to rapid loan growth, with the company's total credit portfolio expanding 40% year-over-year.

Further weighing on investor sentiment was the company's announcement of a measured approach to expansion into the United States, with management indicating that investment would remain capped below 100 basis points of the group's consolidated efficiency ratio through 2027. This cautious outlook, combined with rising delinquency metrics—including an increase in the 15-90 day non-performing loan ratio to 5.0% from 4.1% in the previous quarter—contributed to the pre-market selloff as traders reassessed the company's near-term growth prospects.

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