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Nu Holdings (NYSE:NU), the parent of digital bank NuBank, turned in slightly weaker-than-expected Q1 earnings on Tuesday as purchase volume fell short of the Wall Street consensus. Q1 revenue topped the consensus by a small margin, with interest income and gains on financial instruments climbing.
Nu (NYSE:NU) stock slid 6.1% in after-hours trading.
Q1 GAAP EPS of $0.11, missing the average analyst estimate of $0.12, was unchanged from $0.11 in Q4 2024 and rose from $0.08 in last year’s Q1.
Q1 revenue of $3.25B, topping the $3.23B consensus, rose from $2.99B in the prior quarter and $2.74B a year ago.
Q1 interest income and gains on financial instruments jumped to $2.73B from $2.49B in the previous quarter and $2.28B in the year-ago quarter.
Operating expenses of $523.2M dropped from $595.9M in Q4 and $603.0M in Q1 2024.
Purchase volume decreased to $30.4B (Visible Alpha consensus of $32.2B), from $32.2B in the previous quarter and increased from $31.1B in the year-ago period.
The company added 4.3M new customers during the quarter, reaching a total of 118.6M customers at March 31, 2025 (vs. 118.5M Visible Alpha estimate), compared with 4.5M new customers in Q4 2024.
Monthly average revenue per active customer of $11.2, increased from $10.7 in the previous quarter and slipped from $11.4 a year ago.
Conference call at 8:00 PM ET.
Earlier, Nu Holdings reports Q1 results
