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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Nu Holdings Ltd. (NU) is 8/10, up 1 point from the prior quarter.
Nu Holdings delivered record quarterly revenue of $5 billion and its highest-ever first-quarter net income of $871 million, up 41% year-over-year on an FX-neutral basis, as the customer base surpassed 135 million. Operating leverage produced a record-low reported efficiency ratio of 17.6%, though management guided the full year back toward approximately 20% as timing benefits normalize. Credit loss allowance rose 33% quarter-over-quarter on an FX-neutral basis and risk-adjusted NIM eased 100 basis points to 9.5%, which management attributed to seasonality, 40% portfolio growth and mix rather than any asset-quality deterioration. A structurally lower 8.7% IFRS effective tax rate, expected to converge toward 15% to 20% over the rest of 2026, lifted reported earnings even as operating-line profit grew far more slowly than revenue. Management framed 2026 as an investment year, funding an AI transformation, Mexico's scaling and a measured US entry capped at under 100 basis points of efficiency-ratio headwind.
Scored from Nu Holdings Ltd.’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.86B | +24.4% | $0.11 | +48.0% | 26.9% | 19.3% |
| FY2025 Q1 | $3.25B | +23.1% | $0.11 | +41.9% | 24.5% | 17.2% |
| FY2025 Q2 | $3.68B | +33.9% | $0.13 | +30.3% | 23.9% | 17.3% |
| FY2025 Q3 | $4.17B | +46.1% | $0.16 | +45.5% | 26.7% | 18.7% |
| FY2025 Q4 | $4.70B | +64.6% | $0.18 | +63.6% | 22.9% | 19.0% |
| FY2026 Q1 | $4.98B | +53.4% | $0.18 | +63.6% | 19.2% | 17.5% |
| FY2026 Q2 | $5.52B | +49.9% | $0.22 | +69.2% | 22.4% | 19.2% |