Nu Holdings reports Q1 revenue $877M, consensus $624.15M 17:15 NU Reports Q1 Adjusted Net Income of $10.1M compared to ($11.9M) last year. Added 5.7M customers in Q1, reaching a total of 59.6M customers in Brazil, Mexico and Colombia. This represents a 61% growth YoY. "This is the strongest quarter in Nu's history. We reached nearly 60M customers and a record-high activity rate of 78%. Our earnings-generating formula helped drive a record high quarterly revenue of $887M, 226% increase YoY on a FXN, with a low customer acquisition cost, increasing revenue per customer, and decreasing cost to serve. Our credit portfolio grew significantly above market and maintained healthy quality levels. This result is driven by our advanced risk modeling, as well as our disciplined and resilient lending, especially in light of the current macroeconomic conditions. Despite recent short-term market volatility and our upcoming lock-up release, we remain fully confident and committed to our long-term value creation, as reiterated by our main shareholders," said David Velez, founder and CEO.
