Nu Holdings (NYSE: NU) is a Brazil-based company that's on investors' radars because it's in the Berkshire Hathaway portfolio. It's a tiny percentage of the whole equity portfolio, accounting for only 0.3%, but it packs a strong punch as one of its only true growth stocks. Is it right for the individual investor's portfolio?
Nu is a digital bank that operates in Brazil, Mexico, and Colombia, and it has demonstrated incredible growth and increasing profitability during the past few years. Revenue is increasing by high double-digit percentages, and Nu has been adding millions of new members to its platform. It closed out 2023 with 93.9 million account holders, 19 million more than last year, and $8 billion in revenue, a 62% increase.
Fourth-quarter gross profit increased fourfold to more than $1.1 billion with a 48% margin, and net income increased from $58 million last year to $360 million this year with a 23% margin.
Source Fool.com