Nu Holdings Stock Trending After Hours as Record $1.1 Billion Profit Beats Estimates

Nu Holdings Ltd. (NYSE:NU) shares are trending on Thursday night.

Shares of the Brazilian digital financial services platform surged 8.34% to $15.09 in after-hours trading on Thursday after the company announced better-than-expected second-quarter results for the period ended Jun. 30.

Revenue And EPS Beat Analyst Expectations

Nu Holdings reported gross revenue of $5.9 billion in the second quarter, up 39% year-over-year.

According to Benzinga Pro data, the company posted GAAP revenue of $5.51 billion, beating the $5.47 billion analyst estimate by 0.71%.

Earnings per share for the quarter came in at $0.22, surpassing the expected $0.19 by 13.7%.

Record Profit, Mexico Expansion Fuel Investor Optimism

The company stated that net income reached $1.1 billion for the first time in company history, up 49% year-over-year, with return on equity at 33%.

CEO David Velez said, “we are now generating more than a billion dollars in quarterly net income,” pointing to the company’s shift from an early-stage hypothesis to a proven, profitable model over its 13-year history.

Velez also highlighted Nu’s August launch in Mexico, where it became the country’s largest digital bank and now serves 16 million customers. The company also received a full banking license in Brazil.

Nu’s total credit portfolio grew 37% year over year to $39.4 billion, while deposits increased to $45.3 billion.

Trading Metrics, Technical Analysis

Nu Holdings has a market capitalization of $67.29 billion, a 52-week high of $18.98 and a 52-week low of $11.20.

The Relative Strength Index (RSI) of NU stands at 50.29.

The large-cap stock has gained 12.61% over the past 12 months.

NU is currently positioned at about 35% of its 52-week range.

Price Action: The stock of the largest fintech bank in Latin America closed Thursday’s regular session at $13.93, up 2.73%, according to Benzinga Pro data.

With a strong Growth score of 97.92, Benzinga’s Edge Stock Rankings show that NU stock is in a short-term upward trend, while its medium- and long-term movements are consolidating.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo: Diego Thomazini via Shutterstock