Nu Q2’26 slides: profit tops $1B, risk-adjusted margin hits 12.4%

Nu Holdings Ltd. reported strong Q2 2026 earnings, with net income exceeding $1 billion, marking the first time in its 13-year history. The company's shares experienced a 2.73% increase in regular trading and a further 9.25% surge in after-hours trading, reflecting investor enthusiasm for the profitability milestone. Key growth drivers include customer acquisition, monetization improvement, and operational efficiency, with net income growing 49% year-over-year and gross profit accelerating 43% year-over-year.

The company's ARPAC climbed to $17, more than doubling from $8 in Q2 2022, while the efficiency ratio remained close to management's target of 20%. The report highlights significant untapped opportunities within Nu's existing Brazilian customer base, with an estimated $100 billion gross profit pool for 2025, segmented into Roxinho, Croma, and Ultravioleta products for different income bands.

Mexico emerged as a key growth driver, with 16 million customers as of July 2026, representing a $30 billion gross profit opportunity.

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