SAO PAULO, May 13, 2026, 16:02 BRT
- Nu Holdings will release Q1 2026 results after the bell on May 14, and the earnings call is scheduled for 6 p.m. ET.
- NU slipped roughly 3.3% to $12.84 in New York afternoon action.
- Consensus figures from MarketBeat put first-quarter EPS at $0.20, with revenue estimates sitting at $5.06 billion.
Nu Holdings slipped Wednesday, with investors eyeing Nubank’s upcoming first-quarter results—a gauge of whether the Brazilian digital bank can keep profits climbing as credit growth and funding costs draw extra scrutiny.
NU, the company’s New York-listed ticker, will release earnings after the bell on Thursday. On its investor-relations site, a call with management is set for 6 p.m. Eastern, 7 p.m. Brasília time.
Timing is key here. Nu wrapped 2025 boasting rapid customer gains and a record profit. Still, shares dropped following the last report, with investors scrutinizing costs and debating whether the profit beat was more about tax effects than actual operations.
Analysts tracked by MarketBeat expected earnings per share at $0.20 and revenue hitting $5.06 billion. Shares last changed hands at $12.84, off $0.435 from the previous close, on volume that approached 38.8 million.
Nu reported a hefty customer count back in February—131 million as of December, marking a 15% jump year over year. Monthly ARPAC also climbed, hitting $15 per active customer.
Back then, Founder and CEO David Vélez pointed to “increased scale, deepened engagement, and expanded profitability.” He added that Nu was still zeroed in on “winning in Latin America,” as it continued working toward a broader digital banking platform. Nu International
Fourth-quarter revenue jumped 45%, landing at $4.86 billion, with net profit up 50% to $894.8 million, Reuters reported in February. Chief Financial Officer Guilherme Lago pointed to a larger customer base, rising revenue per active user, and steady serving costs as the key drivers. “This brings positive leverage to revenue,” he told Reuters. Reuters
The risks haven’t gone anywhere. According to Reuters, JPMorgan analysts attributed Nu’s fourth-quarter profit beat in part to a tax rate that came in lower than expected, while Citi flagged issues around cost of risk and operating expenses. Loans overdue by more than 90 days reached 6.6% in the quarter. Lago noted that delinquencies tend to climb in the first quarter, a typical seasonal move.
Credit quality takes the spotlight in Thursday’s report. If the numbers come in clean, bulls get more ammo to say Nu’s low-cost approach keeps delivering. On the other hand, a bump in overdue loans—or higher provisions for losses—would undercut those cost advantages.
The competitive picture is a bit murky. PagSeguro, a fintech player also centered on Brazil, posted first-quarter net revenue of R$3.3 billion—a 6.4% increase from a year ago. Its banking segment revenue jumped 41%, despite elevated Brazilian interest rates continuing to squeeze financial costs.
Traditional banks aren’t sitting it out. Itaú Unibanco posted a first-quarter recurring managerial profit of R$12.3 billion, marking a 10.4% increase from last year. Return on equity hit 24.8%, showing how much profit the bank squeezed from shareholder capital.
One profit figure probably won’t tell the story for Nu. Investors are watching customer growth, ARPAC, and loan expansion across Brazil, Mexico, and Colombia. The real question: Is Nu still gaining ground without letting credit losses eat up those gains?
Expectations are high here. Nu continues to trade at growth-bank multiples—not bargain levels—so Thursday’s results have to prove that its expanding scale is actually driving earnings consistently. Just posting more growth might not satisfy investors now.
