Why Shares of Nu Holdings Are Surging Today
Shares of the Brazilian fintech company and digital bank Nu Holdings (NYSE: NU) traded more than 15% higher as of noon ET today after the company reported earnings results for the third quarter of the year last night.
Nu reported net income of $7.8 million on total revenue of roughly $1.3 billion. Revenue beat analyst estimates.
Nu, which has become a huge disruptor in the Latin American banking market with its low-fee banking products and sleek digital experiences, also continued its impressive growth, adding another 5 million-plus customers in the quarter. Nu now has 70.4 million customers and banks roughly 39% of the Brazilian adult population.
Source Fool.com
