New Street Research - Nubank (NU:US) Nu Holdings (Buy) Q1 23 Quick Take: Strong beat; Rapid growth and Rising profitability - Earnings call follow up

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New Street Research

Soomit Datta

EUR 8954.00 For Business Accounts Only

Nu Holdings (Buy) Q1 23 Quick Take: Strong beat; Rapid growth and Rising profitability - Earnings call follow up

NU reported Q1s after close. Revenue continues to grow rapidly at 112% y/y (constant FX) and came in 3% ahead of street estimates on rising loan growth and a higher yield than expected (on higher credit card yields and a higher Personal loan mix).

16/05/2023 1 EN

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Nubank

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Soomit Datta

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Nu Holdings (Buy) Q1 23 Quick Take: Strong beat; Rapid growth and Rising profitability - Earnings call follow up

NU US (Neutral, TP: $12.5, -2%) Nu Holdings Q2 24 Quick Take: In-line, pre-provisioning, moderated growth indicators

TIMS3 (Buy, TP: BRL23, +32%) VIVT3 (Buy, TP: BRL61, +26%) AMX (Buy, TP: $22, +32%) TIM Brasil (Buy) / Brazil Q2 wrap - Strong EBITDAaL beat at TIM / Market round up / Nubank MVNO latest Fintech-Telco offer

PSA Digital Payments: Brazil’s Pix – The Great Equaliser

NSR Policy: It’s the Election, Stupid (or Is It?): Comparing Harris and Trump on Leadership

Altice Pre-3Q24 Model Update

T-Mobile selling 3.45GHz portfolio

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