Nu Holdings Ltd (NYSE:NU) shares are trading 8% lower in Thursday’s after-hours session on the heels of the company’s fourth-quarter financial results. Here’s a rundown of the report.
Q4 Revenue: $2.99 billion, versus estimates of $3.29 billion
Q4 EPS: 11 cents, versus estimates of 11 cents
Nu added 4.5 million customers in the fourth quarter, bringing total global customers up to 114.2 million as of Dec. 31, up 22% year-over-year. The company said it became the third-largest financial institution by number of customers in Brazil in the quarter.
“We advanced in all of our priorities with significant strides in our High-Income strategy in Brazil, expanded our footprint in Mexico, and broadened our portfolio with NuCel and NuTravel,” said Nubank founder and CEO David Vélez.
“As we prepare to scale up our products and services globally, we remain focused on execution, customer-centric innovation and sustainable growth in our current markets.”
The digital banking company had an interest-earning portfolio of $11.2 billion as of Dec. 31. Its credit card portfolio expanded 28% year-over-year as total deposits jumped 55% year-over-year.
Nu’s executive team will further discuss the company’s quarterly results on a conference call at 5 p.m. ET.
NU Price Action: Nu Holdings shares were down 7.27% after hours, trading at $12.37 at the time of publication Thursday, according to Benzinga Pro.
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