Overview
- Nu reported on Aug. 13 that second-quarter net profit was $1.06 billion and net revenue rose about 39% to $5.88 billion, beating analyst estimates and sending the stock up roughly 9%–13% in extended trading.
- Risk-adjusted net interest margin widened to about 12.4% and CFO Rob Livingston said the margin improvement should persist, a key driver of the stronger profitability.
- The credit portfolio grew to $39.4 billion, cost of credit fell sequentially to $1.69 billion but remained roughly 60% higher than a year earlier, early delinquency eased to about 4.8% and 90+ day NPLs rose to about 6.9%.
- Nu added roughly 4 million customers in the quarter to reach about 139 million, secured a full banking licence and a full-bank launch in Mexico, and said it is building out U.S. credit capabilities over the coming months.
- Operational scale and technology are lifting returns: deposits reached $45.3 billion, average revenue per active customer is near $17, and the NuFormer AI now handles more than 60% of Brazil customer support, which reduces costs and supports further margin gains while credit quality and geographic execution remain the main risks to watch.