The earnings call highlighted substantial customer and revenue growth, profitability milestones, and strategic expansion into new verticals, indicating strong business momentum. However, challenges like NIM compression and asset quality concerns were also discussed, though they seemed to be strategically managed.

Company Guidance

During the Q3 2024 earnings call, Nu Holdings provided substantial guidance with multiple metrics highlighting the company's robust performance. The company achieved significant customer growth, reaching 110 million customers, a 56% increase from 70 million two years prior. In Brazil alone, the customer base grew to over 100 million, with 1.1 million new customers monthly. Revenue surged to $2.9 billion, marking a 56% year-over-year increase, while gross profit grew by 67% to $1.3 billion, resulting in a 45.8% gross margin. Net income also rose to $553 million, contributing to an annualized return on equity of 30%. Additionally, the adjusted net income expanded by 89% year-over-year to $592 million. The company continues to leverage its strong customer engagement, evidenced by an average of four products per active customer and a monthly ARPAC of $11, with mature cohorts achieving $25. Despite challenges like currency depreciation, Nu Holdings demonstrates a solid growth trajectory with plans to further enhance its platform and market share across its operating geographies.

Record Customer Growth

Achieved 110 million customers by the end of the quarter, reflecting a 56% increase from 70 million two years ago.

Revenue Surge

Revenue surged to $2.9 billion, reflecting a 56% year-over-year increase despite currency depreciation.

Profitability Milestone

Net income reached $553 million, leading to an annualized return on equity of 30%. Adjusted net income was $592 million, up 89% year-over-year.

Strong Deposit Growth in Mexico and Colombia

Deposits in Mexico reached $3.9 billion, a near 4x increase. Colombia's deposits reached $900 million shortly after launching a new product.

Expansion into New Verticals

Launches of NuCel, NuMarketplace, NuTravel, and NuPay as part of the strategy to broaden the total addressable market.

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Nu Holdings Ltd. Class A (DE:M1Z) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:M1Z Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 22, 2022	2021 (Q4)	>-0.01 / 0.00	-0.469	―	―	―
May 16, 2022	2022 (Q1)	>-0.01 / 0.00	-0.213	―	―	―
Aug 15, 2022	2022 (Q2)	0.00 / <0.01	-0.065	105.97% (+0.07)	―	―
Nov 14, 2022	2022 (Q3)	<0.01 / <0.01	0	―
Feb 14, 2023	2022 (Q4)	0.02 / 0.02	0	―
May 15, 2023	2023 (Q1)	0.02 / 0.04	0	―
Aug 15, 2023	2023 (Q2)	0.04 / 0.05	0.004	1150.00% (+0.04)
Nov 14, 2023	2023 (Q3)	0.06 / 0.06	0.01	520.00% (+0.05)
Feb 22, 2024	2023 (Q4)	0.08 / 0.08	0.019	300.00% (+0.06)
May 14, 2024	2024 (Q1)	0.08 / 0.08	0.038	100.00% (+0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:M1Z Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 13, 2024	€14.99	€14.52	-3.12%
Aug 13, 2024	€11.56	€12.16	+5.19%
May 14, 2024	€10.63	€10.80	+1.62%
Feb 22, 2024	€9.55	€9.13	-4.42%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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