Shares of Nu Holdings Ltd. jumps nearly 9% after reporting impressive earnings and revenue results in Q4, according to a press release by Nu Holdings on Tuesday.
- The company’s Q4 total revenues hit $635.9 million, increasing 224.5% YOY. In 2021, the total revenue was $1.7 billion, a record high for the company.
- The gross profit of the company rose 207%YOY in Q4 to reach $226.9 million and rose to $732.9 million in 2021, increasing 131.6%YOY.
- Nu Holdings reported an adjusted net income of $3.2M in the fourth quarter of 2021. For the full year 2021, the company reported an adjusted net income of $6.6M compared adjusted net loss of $26.8M in 2020.
- The number of SME customers of the company nearly tripled in 2021, expanding from 0.5 million to 1.4 million.
- In 2021, Nu completed acquisitions of Easynvest, Juntos, SpinPay, and the acquisition of Olivia, an AI-focused personal finance manager provider.
The company continues to enjoy significant growth in Mexico, reaching 1.4M customers at the close of 2021, growing 1,243% YOY. NU up +8.41%, Pre-market trading