Nu stock spikes after Q2 revenue beat reflects customer growth, purchase volume

Nu Holdings (NYSE:NU) shares jumped 12% in Friday morning trading in the U.S. after the Brazilian fintech turned in second-quarter sales that surpassed Wall Street expectations on the back of strong customer growth and purchase volume.

Q2 revenue of $3.67B, topping the $3.64B average analyst estimate, climbed from $3.25B in Q1 and $2.85B a year earlier.

Net interest income gained 11% Q/Q and 33% Y/Y to a record high of $2.1B in Q2.

Operating expenses were $667.6M, up from $634.0M in Q2 2024.

Purchase volume rose to $33.3B from $30.3B in the prior quarter and $31.3B in 2024’s Q2.

The company added 4.1M customers during the quarter, representing a 17% Y/Y increase and bringing total customers to 122.7M.

Monthly average revenue per active customer was $12.2 in Q2 vs. $11.2 in both Q1 2025 and Q2 2024.

NU’s (NYSE:NU) net income has nearly tripled to $637M in the past two years, noted Founder and CEO David Vélez. “These results come despite our ongoing investments in growth,” he added.