Nu Holdings (NU) Earnings Date & Reports

Key Takeaways

• Nu Holdings (Nubank) is scheduled to report third-quarter 2026 results on November 12, 2026, after the market close.
• Consensus estimates point to earnings near $0.23 per share on revenue of roughly $5.9 billion.
• The company enters the print with momentum after second-quarter net income crossed $1 billion for the first time in its history.
• Investors will focus on credit quality, the efficiency ratio, and customer growth across Brazil, Mexico, and Colombia.
• Mexico's recent break-even milestone and the early-stage U.S. expansion remain key long-term storylines.

Earnings Context and Why It Matters

Nu Holdings has become one of the world's largest digital financial services platforms, serving roughly 139 million customers across Latin America. Its quarterly results are closely watched because the company is a bellwether for digital banking's profitability and for Latin American consumer credit. In the second quarter of 2026, Nubank delivered record profitability, with net income up 49% year over year, a return on equity (ROE) of 33%, and revenue growth of about 39%. That performance sets a high bar. For investors, the third-quarter report will test whether this expansion can continue while the company manages credit risk, funds its international push, and invests heavily in artificial intelligence.

Earnings Expectations

For the third quarter ended September 30, 2026, Wall Street expects Nu Holdings to report earnings of approximately $0.23 per share, with individual analyst forecasts ranging from about $0.18 to $0.25. Revenue consensus sits near $5.9 billion, with estimates spanning roughly $5.78 billion to $6.08 billion.

Those figures compare against a strong year-ago period, when Nu reported earnings of $0.16 per share on revenue of about $4.17 billion. More recently, the second quarter of 2026 produced earnings of $0.22 per share, beating the $0.20 consensus, while revenue of $5.88 billion came in well ahead of the $5.39 billion expected. Net income reached $1.06 billion, and the risk-adjusted net interest margin (NIM) — a measure of lending profitability after accounting for credit losses — hit a record 12.4%.

Beyond the headline numbers, investors will watch the efficiency ratio, the 15-90 and 90-plus day non-performing loan (NPL) ratios, the monthly average revenue per active customer (ARPAC), and total customer additions. Historically, Nu shares have shown notable moves around earnings: the stock surged about 11.6% in after-hours trading following the second-quarter report.

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Market Reaction and Investor Sentiment

Sentiment heading into the third-quarter report is broadly positive but carries a high bar. The stock rallied sharply after the second-quarter results, reflecting enthusiasm over record profitability and improving margins. However, the first quarter of 2026 showed that estimates can be missed: earnings came in below consensus and the shares declined about 5.7% in the following period.

Key risk factors for the upcoming print include credit quality, where the 90-plus day NPL ratio rose to 6.9% in the second quarter on seasonal factors, and the pace of unsecured lending growth. Any signal that delinquencies are climbing faster than expected, or that margin expansion is slowing, could pressure sentiment. Conversely, sustained efficiency gains and resilient customer monetization would likely reinforce the bullish case.

Forward Outlook and Key Factors to Monitor

Management has guided for a full-year 2026 efficiency ratio of around 20%, implying some expected cost pressure in the second half as return-to-office expenses and investments in international expansion and AI infrastructure scale. Whether the company holds that line while continuing to grow revenue will be a central theme after the report.

Credit quality deserves close attention. Nubank's early-stage delinquency metrics follow a seasonal pattern that peaks in the first quarter, but the company has also been deliberately expanding into higher-risk lending segments using improved risk models. Investors will watch whether the 15-90 day NPL ratio stabilizes and whether risk-adjusted NIM can stay near its record level.

International progress remains another key catalyst. Mexico reached break-even in the first quarter and became the country's third-largest financial institution, while Colombia continues to scale. The company is also pursuing a measured, capital-efficient entry into the United States, with a timeline management has described as roughly 12 to 30 months. Finally, Nu's AI transformation — including its proprietary foundation models used in credit decisioning — will be scrutinized for evidence that it is improving underwriting efficiency and sustaining portfolio growth without eroding asset quality.

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