Warren Buffett-Backed Bank Nu Holdings Posts Q3 Results: EPS In Line, Revenues Beat Estimates

Zinger Key Points
  • Nu Holdings reports quarterly earnings of 11 cents per share, in line with the analyst consensus estimate.
  • Quarterly revenue comes in at $2.94 billion which beat the analyst consensus estimate of $2.85 billion.

Nu Holdings Ltd. NU reported its third-quarter results after Wednesday's closing bell. Here's a look at the details from the report. 

The Details: Nu Holdings reported quarterly earnings of 11 cents per share, in line with the analyst consensus estimate. Quarterly revenue came in at $2.94 billion which beat the analyst consensus estimate of $2.85 billion and is an increase over sales of $2.14 billion from the same period last year.

  • Nu added 5.2 million customers in the quarter, reaching a total of 109.7 million customers globally by Sept. 30, 2024, reflecting a 23% year-over-year increase.
  • Monthly Average Revenue per Active Customer (ARPAC) stands at $11 in the third quarter.
  • Monthly Average Cost to Serve Per Active Customer remained below the one-dollar level at 70 cents per customer.

Read Next: Bitcoin Could Reach $1 Million By 2037, Economist Says: ‘Buy Of A Lifetime’ Opportunity

"Our third quarter 2024 underscores the strength of our business model, demonstrating top-line growth and sustained profitability. We reached $2.9 billion in revenue, driven by both customer acquisition — now reaching 110 million globally — and enhanced customer engagement through cross-selling and up-selling initiatives, alongside appealing product launches,” said David Vélez, founder and CEO of Nubank.

NU Price Action: According to Benzinga Pro, Nu Holdings shares are up 3.13% after-hours at $16.17 at the time of publication Wednesday.

Read More: 

Photo: Courtesy of Nu Holdings, Ltd.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsFintechNewsGlobalAfter-Hours CenterMoversbankingbanksbrazilwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!
fintech-banner
Fintech Focus Newsletter

Your update on what’s going on in the Fintech space. Keep up-to-date with news, valuations, mergers, funding, and events. Sign up today!