Why Shares of Nu Holdings Are Volatile Today
Shares of the Brazilian digital bank Nu Holdings (NYSE: NU) traded more than 13% higher at 9:40 a.m. ET today before giving up those gains and trading about 1% higher as of 10:26 a.m. The company reported earnings results for the first quarter of 2022 last night. Nu in the quarter also generated record revenue of $887 million, which smoked analyst estimates of only $624 million. Importantly, Nu continued to grow average monthly revenue per active user (ARPAC), which increased to $6.70 on average and to $19 for some of the bank's most mature cohorts.
