Reuters42d agobullish
Nubank quarterly net profit beats estimates, topping $1 billion for first timeNu Holdings posted net profit of $1.06 billion for the April-June quarter, a 49% rise year-on-year on a foreign-exchange-neutral basis and above the $967.2 million Visible Alpha estimate. The profit increase was driven by higher revenue and an improvement in risk-adjusted net interest margin, Chief Financial Officer Rob Livingston, who assumed the role last month, told Reuters. Credit portfolio "did slow a little bit sequentially in terms of the growth rate relative to the first quarter," Livingston said, but noted the move came from an unusually strong recent expansion.
