Nu Holdings (NYSE:NU) Surges $6.3 Billion in Value After $94 Million Profit Exceeds Estimates

SÃO PAULO, August 16, 2026, 14:10 BRT

Nu shares climbed 9.3% on Friday, finishing the week up 10.0%.
The surge increased market value by approximately $6.3 billion.
Risk-adjusted net interest margin stood at 12.4%, as late delinquencies increased.

Shares of Nu Holdings Ltd. NYSE:NU rose 9.3% to $15.23 on Friday. The company’s net profit for the second quarter was $1.06 billion, surpassing Visible Alpha’s forecast of $967.2 million. Revenue came in higher than projected as well.

The share increase boosted market value by approximately $6.3 billion, representing nearly 67 times the $93.9 million profit beat. The figure is based on Friday’s $73.57 billion closing valuation and Thursday’s $13.93 per-share price.

As a result, investors factored in stronger performance extending beyond a single quarter. The main expectation is that Nubank will maintain its higher lending margin even as it continues to grow its credit portfolio.

Nu Q2 measure	Q2 2026	Q1 2026	Q2 2025
Managerial revenue	$5.88bn	$5.32bn	$3.77bn
Gross profit	$2.44bn	$1.88bn	$1.52bn
Net income	$1.06bn	$871mn	$637mn
Risk-adjusted NIM	12.4%	9.5%	9.9%
Return on equity	33%	29%	28%
90+ day NPL ratio	6.9%	6.5%	6.5%

NIM is net interest margin; NPL means non-performing loan. Source: Nu Holdings second-quarter release.

Risk-adjusted net interest margin increased by 2.9 percentage points since March, surpassing the 9.9% mark from the previous year. Chief Financial Officer Rob Livingston stated the present level seems sustainable looking ahead.

JPMorgan analysts described the results as a “solid beat even for investors who were positive into the print.” Credit costs declined by 9% quarter-on-quarter to $1.69 billion, but remained up 60% compared to the prior year. Reuters

Credit indicators showed a mixed picture. Early delinquencies declined to 4.8% from 5.0%. However, loans more than 90 days overdue increased to 6.9% from 6.5%.

Nu’s founder and CEO David Vélez stated the company is “now generating more than a billion dollars in quarterly net income.” The number of customers climbed to 138.9 million. Average monthly revenue per active customer increased to $17.10.

Session	Close	Volume
Monday, Aug. 10	$13.86	35.8mn
Tuesday, Aug. 11	$13.65	78.0mn
Wednesday, Aug. 12	$13.56	45.8mn
Thursday, Aug. 13	$13.93	65.4mn
Friday, Aug. 14	$15.23	156.3mn

Nu’s completed trading week. Source: Yahoo Finance.

On Friday, Nu accounted for 93.5% of its weekly dollar gain. Trading volume was 77% higher than its recent average. The stock closed 19.8% beneath its 52-week peak of $18.98.

Nu moved differently from other Brazilian fintechs. Last week, PagSeguro Digital Ltd. NYSE:PAGS declined 4.6%, while StoneCo Ltd. NASDAQ:STNE dropped 9.9%.

Stock	Friday move	Weekly move	Friday close
Nu Holdings	rose 9.3%	gained 10.0%	$15.23
PagSeguro	fell 1.1%	declined 4.6%	$8.72
StoneCo	dropped 6.6%	lost 9.9%	$9.55

Close-to-close changes. Source: Yahoo Finance historical data.

Analysts maintain an overall positive stance, though they are not in full agreement. Out of nine recent ratings, six are buys. The average target price of $17.10 represents a potential upside of 12.3% following Friday’s rally.

Analyst	Firm	Recommendation	Target	Latest action
James Friedman	Susquehanna	Hold	$16	Kept at Aug. 14
Kyle Peterson	Needham	Buy	$19	Reaffirmed Aug. 14
Mario Pierry	Bank of America	Sell	$10	Kept at Aug. 13
Tito Labarta	Goldman Sachs	Buy	$22	Kept at July 22
Yuri Fernandes	JPMorgan	Buy	$20	Kept at July 7

Recent published recommendations. Source: Google Finance.

The upcoming key economic indicator is due on Monday, when Brazil’s central bank releases its June economic activity index. With Nu serving close to 118 million customers in Brazil, trends in local credit demand and borrowers’ ability to repay remain crucial.

Risks: Late-stage delinquencies could continue to increase once the seasonal uptick passes. International investment has lifted the efficiency ratio to 19.5% from 17.6%. A disappointing economic activity figure in Brazil would further challenge loan expansion and credit standards.

Monday trading will reveal if demand following earnings persists after the weekend. The key level is 12.4%; investors require proof that the risk-adjusted margin remains close to this mark.

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Further analysis

Editorial insight

What caused Nu Holdings shares to surge on Friday?

Nu climbed 9.3% as its second-quarter net income hit $1.06 billion, surpassing the $967.2 million estimate from Visible Alpha. A bigger surprise came from the risk-adjusted net interest margin, which reached 12.4%, increasing from 9.5% in the previous quarter. Management stated this level seems sustainable for the foreseeable future.

Has Nu experienced an improvement in credit quality?

The outcome is mixed. The share of loans overdue between 15 and 90 days fell to 4.8% from 5.0%. Loans overdue beyond 90 days increased to 6.9% from 6.5%. Credit costs dropped 9% compared to the first quarter but stayed 60% above year-ago levels.

What level of potential gains do analysts forecast for NU stock?

The latest average target stands at $17.10, roughly 12.3% higher than Friday's closing price of $15.23. Out of nine recent analyst ratings, six are buys, two are holds, and one is a sell. Targets vary significantly, from $10 to $22, underscoring uncertainty about credit expenses and investment in growth.

What is the next thing Nu investors should pay attention to?

Brazil's economic activity index for June is scheduled for release on Monday. This is significant given that Nu serves nearly 118 million customers in Brazil. Investors will also monitor if the share price maintains its post-earnings increase and whether forthcoming results sustain the risk-adjusted margin close to 12.4% without another uptick in late delinquencies.