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Nu Holdings

Nu Holdings (NYSE: NU) Stock Slides as Q1 Results Disappoint Wall Street

Shares of Nu Holdings (NYSE: NU) fell more than 3% in pre-market trading on Wednesday following the release of its first-quarter earnings report, which came in below Wall Street expectations.

Nu Holdings (NYSE: NU)
Nu Holdings Stock Price Chart

The digital banking platform posted earnings per share (EPS) of 12 cents, missing the consensus estimate of 13 cents. Revenue for the quarter rose 19% year-over-year to $3.2 billion, slightly below the analysts’ forecast of $3.23 billion.

Key Q1 Highlights:

  • Nu added 4.3 million customers in the first quarter, bringing its global customer base to 118.6 million as of March 31, 2025 — a 19% year-over-year increase.
  • Monthly Average Revenue per Active Customer (ARPAC) rose to $11.2, up 5% from the previous quarter and 17% year-over-year on an FX-neutral basis.
  • The company maintained low operating costs, with the Monthly Average Cost to Serve Per Active Customer holding below one dollar at seven cents — down 4% from a year ago and 12% lower sequentially.
  • Net interest income hit a record $1.8 billion, a 34% increase from the prior year and up 5% sequentially.

CEO David Vélez emphasized the company’s momentum across Latin America, stating,

“Starting 2025 strong, Nubank reached 118.6 million customers, adding over four million in a single quarter, showcasing its powerful platform scalability across Brazil, Mexico, and Colombia.”

Vélez also highlighted stronger customer engagement, noting 98.7 million monthly active users and an activity rate above 83%.

He further pointed out that revenues rose 40% year-over-year on a foreign exchange-neutral basis, driven by a 62% expansion in the interest-earning portfolio.

Nu Holdings counts Warren Buffett among its investors. His company, Berkshire Hathaway (NYSE: BRK.B), holds shares in Nu, giving him exposure to the fast-growing fintech player.

As of the latest update, Nu Holdings (NYSE: NU) shares are down 3.42%, trading at $12.69.