(Nu Holdings) Shares of Nu Holdings rose more than 10% on Wednesday as revenues surged 224.3% year-over-year to $635.9 million in the fourth quarter of 2021.
Shares were also boosted by an increase of customers of 5.8 million in the fourth quarter, which hit a record 53.9 million.
Nu reported that its Monthly Average Revenue per Active Customer rose 71.8% to $5.6.
Deposits improved by 86.5% to $9.7 billion, while the Interest Earning Portfolio jumped by 343.5% to $2.0 billion.
Nu said that its Non-Performing Loans Delinquency rates remained below the company’s and industry averages.
Overall, NU posted a net loss of $66.2 million in the fourth quarter, an improvement of 38.2% from the prior year. Net loss for FY21 was $165.3 million, an improvement of 3.6% from the prior year.
NU: NYSE is up +10.11% on premarket.
