Nu Holdings reports FY24 EPS 40c, consensus 45c

Reports FY24 revenue $11.5B, consensus $11.78B. Nu added 4.5 million customers in Q4’24, and 20.4 million in FY’24, reaching a total of 114.2 million customers globally by December 31, 2024, reflecting a 22% year-over-year increase. “2024 was a transformational year for Nu as we advanced our mission to empower millions across Latin America with accessible, transparent and low-cost financial services. We now serve over 114 million customers, with 20.4 million net additions during the year, while strengthening engagement and deepening primary banking relationships. We achieved $11.5 billion in revenue, a 58% year-over-year growth on an FX-neutral basis, and net income nearly doubled from 2023, reaching close to $2.0 billion. We advanced in all of our priorities with significant strides in our High-Income strategy in Brazil, expanded our footprint in Mexico, and broadened our portfolio with NuCel and NuTravel. As we prepare to scale up our products and services globally, we remain focused on execution, customer-centric innovation and sustainable growth in our current markets,” said David Velez, founder and CEO of Nubank.