Nu Holdings reports Q4 revenue $1.45B, consensus $1.47B

"Nu posted record results this quarter, with growth across all metrics and a meaningful increase in profits. Net Income grew to over $58 million in Q4’22 at holding level, excluding the one-time non-cash effects of the CSA termination announced last November. We reached a total of 75 million customers in Brazil, Mexico and Colombia, increasing engagement, cross-sell and up-sell -all to consolidate Nu’s position as Brazil’s fifth largest financial institution in terms of active customers. In Brazil specifically, we saw net income grow to $138 million in the last quarter, with an annualized ROE of 35% – among the highest in the industry, providing evidence for the profit potential of our business model. Despite the macroeconomic challenges of 2022, Nu was able to beat every key metric: maintained accelerated growth, gained share in products and markets, kept delinquency in check through superior credit underwriting, and improved operating leverage," says David Velez, founder and CEO.