Movement Alert｜Nu Holdings Ltd. Overnight Rise 3.38%, Revenue Beat and Improved Efficiency Outlook Support Shares

Market Focus11-13 09:00

On November 13, Nu Holdings Ltd. rose 3.38% Overnight, trading at $12.23/share, after the company reported quarterly results that came in ahead of revenue expectations and pointed to better operating efficiency.

Nu Holdings Ltd. reported Q3 EPS of $0.22, roughly in line with expectations, while revenue reached $5.82 billion, above the $5.684 billion consensus. Net income rose to about $1.1 billion, up 31% from a year earlier, and gross revenue was reported at $6.3 billion, up 37% year over year.

Management also improved its full-year efficiency ratio outlook to 19% to 19.5%, versus a prior view of around 20%. In addition, management said fourth-quarter risk-adjusted net interest margin should remain resilient and that its underwriting model has been aligned with new Brazil rules, helping ease some market concerns around consumer credit and regulatory risk.

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