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$NU: Q2 Net Profit Tops $1B; EPS $0.22 vs $0.20 Est
Nu Holdings reports first quarterly net profit exceeding $1 billion, driven by credit expansion and stablecoin fees, while efficiency ratio improves despite 15% expense growth.
Key Points
- Q2 Net Profit: $1.02B (First quarter >$1B)
- EPS: $0.22 vs $0.20 Est (+10% surprise)
- Efficiency Ratio: Improved to 45% from 48% YoY
- Guidance Raised: Full-year net profit target $4.1B-$4.3B
- Stablecoin Revenue: $45M (New line item, <5% of total rev)
What To Watch
- Q3 Credit Book Growth: Sustained loan expansion is critical for maintaining revenue momentum.
- Efficiency Ratio Trend: Watch for further compression below 45% in Q3.
- Stablecoin Adoption: Monitor if USD-pegged token usage scales significantly beyond Q2 levels.
- Regulatory Updates: Any changes in Brazilian central bank policy on digital assets or interest rates.