Nu Holdings posted second-quarter net income of $1.1 billion, up 49% year over year on a currency-neutral basis, its first quarter above $1 billion, as revenue rose 39%. It serves over 140 million customers at about $1 per customer each month and earns $17.10 in monthly revenue per user. Consensus estimates project earnings per share of $1.43 in 2028, 147% above 2025, though as a lender Nu faces credit risk tied to macroeconomic conditions. Nu has conditional approval for a U.S. national bank charter expected in 2027 and, in the meantime, partners with Lead Bank, having launched a high-yield deposit account, a credit card and the Nu Global account on Sept. 10. The article says the U.S. launch will contribute little to results for 12 to 30 months, the time needed to build credit and risk models, in a highly competitive market.
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