Nu Holdings shares jump on strong quarterly earnings, outlook

Shares of Nu Holdings Ltd. surged on Thursday after the digital bank reported quarterly earnings that topped analysts’ estimates and raised its full-year outlook.

The São Paulo-based company posted adjusted net income of $1.2 billion for the second quarter, up 45% from a year earlier, while revenue rose 38% to $3.1 billion. Analysts had expected adjusted earnings of $1.05 billion and revenue of $2.9 billion, according to a Refinitiv consensus.

Nu also increased its 2025 guidance, projecting adjusted net income of $4.8 billion to $5.2 billion, compared with prior guidance of $4.5 billion to $4.9 billion. The company cited stronger credit performance and sustained customer growth as key drivers.

The stock, which trades under the ticker NU on the NYSE, rose as much as 7% in premarket trading before paring gains to 4.5% at the open. The shares have gained roughly 20% over the past month, outperforming the broader financial sector.

Analysts at Citi maintained a Neutral rating but raised their price target to $12 from $10, citing Nu’s improving profitability and expanding market share in Brazil’s credit market. JPMorgan also upgraded Nu to Overweight, citing its ability to leverage technology for cost efficiency.

Nu Holdings, Latin America’s largest digital bank by market value, has expanded aggressively into personal loans, credit cards and investment products, attracting over 90 million customers. Its growth has been fueled by Brazil’s high interest-rate environment, which has boosted net interest margins despite regulatory pressures on lending rates.

The company’s shares have climbed 35% this year, outpacing the MSCI Latin America Financials Index, which is up 12%. Investors are closely watching Nu’s ability to maintain its growth trajectory amid rising competition and potential regulatory changes in Brazil’s financial sector.

Nu Holdings will release its next earnings report on November 6, 2025.