Nu Holdings reported a surprise net profit of $7.8 million, besting analyst expectations for a net loss of $9 million.
The Sao Paulo-based neobank’s third-quarter revenue totaled $1.3 billion, topping the average analyst estimate of $1.24 billion as compiled by FactSet. Shares rose 11% in post-market trading.
NuCripto reached 1.3 million customers following its full rollout in July.
Nu Holdings has more than 70 million users, the same as reported at the end of September.
Nubank plans to add a native loyalty token called Nucoin in 2023, built on the Ethereum scaling platform Polygon and tested with 2,000 initial users.
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Source: https://www.theblock.co/post/186576/nu-holdingss-q3-profit-bests-estimate-shares-rise?utm_source=rss&utm_medium=rss