Here's Why Shares of Nu Holdings Rose 16% in August
Shares of the Brazilian digital bank Nu Holdings (NYSE: NU) rose 16.4% in August, according to data provided by S&P Global Market Intelligence, after the company reported earning results for the second quarter of the year.
Nu in Q2 reported a very slight loss of $0.006 on record revenue of roughly $1.16 billion, which is up 230% year over year. The bank added another 5.7 million users in the quarter, bringing total users at the bank to a whopping 65.3 million.
"We had another very strong quarter, with growth and profitability in our core business. We registered record revenues and are making huge strides toward becoming a multiproduct and multi-country platform," Nu's founder and CEO David Velez said in a statement.
Source Fool.com
