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.
In the first quarter of the year, Nu reported a loss of $45 million, roughly in line with analyst estimates. Adjusted net income came in at $10.1 million. Nu in the quarter also generated record revenue of $887 million, which smoked analyst estimates of only $624 million.
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Source Fool.com
