Nu Holdings reports Q2 revenue $1.9B, consensus $1.74B

Reports Q2 Adjusted Net Income $262.7M with an adjusted ROE of 19%, compared to an Adjusted Net Income of $17.0M in Q2 of FY22. “This quarter, Nu continued to expand its customer base, engagement, and monetization, increasing ARPAC above $9 for the first time, while keeping cost to serve stable below the dollar level. This combination led to revenue growing 5x in the last two years to a record of $1.9B, and net income reaching $225M, over 50% higher than the last quarter, which reinforces Nu’s strong operational leverage and earning-generating power. We continue to showcase leading indicators in the region for operating efficiency, and solidity. In Brazil, our growth trajectory continues, as one in every two adults is a Nu customer, and we have become the fourth largest financial institution in the country in number of customers”, said David Velez, founder and CEO of Nubank.