Buffett-backed Nubank's revenue surges on robust customer growth

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Nu Holdings (NU) shares rally after Q3 results beat analyst estimates

November 15, 2022 10:46 AM EST

Nu Holdings (NYSE: NU) jumped Tuesday, currently up 16.9%, after the company reported its third-quarter earnings on Thursday, with revenue topping analyst consensus estimates.

The digital financial services firm reported record revenue for the quarter, coming in at $1.3 billion versus the consensus estimate of $1.23 billion. Revenue grew 171% year-over-year.

The company's customer base grew to over 70 million after adding 5.1 million customers in the quarter, with a record-high activity rate of 82%. Nu stated that the sustained increase in the number of active customers and higher consumer engagement bolstered... More