Nu Holdings reported Q2 revenue of $5.9 billion, up 39% year-over-year, driving shares 40% higher from June lows.
Nu Holdings (NU) shares have climbed nearly 40% from a 52-week low of $11.20 in June, following stronger-than-expected second-quarter earnings. The Latin American fintech reported revenue of $5.9 billion, a 39% increase year-over-year, outpacing account growth of 13% to 138.9 million users.
The company, which serves over 62% of Brazil’s adult population, attributed the revenue surge to higher customer engagement. Account activity rates continued to rise, reflecting deeper adoption of NuBank’s financial services. The results contrast with earlier analyst downgrades that had weighed on the stock.
Shares jumped after the earnings release, extending gains from recent weeks. The stock closed at $17.10, marking a sharp recovery from its June lows.