Nu Holdings Ltd. (NU) reported a substantial profit increase for its first quarter compared to the same period last year; however, the results fell short of market expectations.
The company posted a net income of $378.81 million, or $0.0775 per share, up from $141.75 million, or $0.0294 per share, in the previous year's first quarter.
Analysts, on average, had forecasted an earnings per share of $0.08, according to data compiled by Thomson Reuters. It is important to note that analysts' estimates typically exclude special items.
For the quarter, Nu Holdings Ltd. saw a significant revenue increase of 69.1%, reaching $2.74 billion, up from $1.62 billion in the same period last year.
### Nu Holdings Ltd. Q1 Earnings Overview (GAAP):
- **Net Income (Q1):** $378.81 million, compared to $141.75 million last year.
- **Earnings Per Share (EPS, Q1):** $0.0775, up from $0.0294 last year.
- **Revenue (Q1):** $2.74 billion, compared to $1.62 billion last year.
