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Why Shares of Nu Holdings Are Volatile Today

TheMotleyFool 
0 0 17.05.22
Why Shares of Nu Holdings Are Volatile TodayPhoto, wide shot, wide-angle lens, Private equity firm, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/11edc0a6-edfc-46d1-baee-abd4f510abd1.png
 

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.

Image source: Getty Images.

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Source Fool.com

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