🔹 Revenue: $3.67B (Est. $3.67B) 🟢; UP +30% YoY
🔹 EPS: $0.13 (Est. $0.13) 🟢; UP +29% YoY
🔹 Customers: 122.7M; UP +17% YoY
Management Update:
🔹 Named Eric Young as Chief Technology Officer (ex-Snap, Google, Amazon), effective September, succeeding Vitor Olivier after 10+ years.
🔹 Young to focus on operational excellence, international expansion through platformization, and AI advancement.
Operating Metrics:
🔹 Net Income: $637M; UP +31% YoY
🔹 Gross Profit: $1.55B vs. $1.36B YoY
🔹 Gross Margin: ~42%
🔹 Credit Loss Allowance: $1.01B vs. $0.76B YoY
🔹 Operating Expenses: $668M vs. $634M YoY
CEO Commentary (David Vélez):
🔸 “We welcome Eric Young at a pivotal moment as Nubank enters a new stage of maturity.”
