Key Highlights Q2 2026 net profit reached $1.06 billion, marking the company’s inaugural billion-dollar quarter with a 49% year-over-year increase Total revenue increased 39% to $5.88 billion
Nu Holdings achieved a milestone performance in its latest quarterly results, surpassing the $1 billion net income threshold for the first time in company history. Following Thursday evening’s earnings release, shares rallied approximately 9.5% in extended trading, reaching roughly $15.25.
The digital banking platform reported quarterly net profit of $1.06 billion for the three months ending June, representing a 49% increase compared to the same period last year on a foreign-exchange-neutral basis. This figure exceeded the Visible Alpha consensus estimate of $967.2 million.
Total revenue expanded 39% to reach $5.88 billion, topping analyst expectations of $5.60 billion.
$NU Nubank Q2 FY26:
• Customers +13% Y/Y to 139M• Deposits +18% Y/Y to $45.3B• Revenue +50% Y/Y to $5.5B ($0.4B beat)• Net income +67% Y/Y to $1.1B• EPS $0.22 ($0.02 beat). pic.twitter.com/35fhiAy8Hs
— App Economy Insights (@EconomyApp) August 13, 2026
Among the most impressive metrics was the risk-adjusted net interest margin. The figure jumped to 12.4% during Q2, representing a significant improvement from both the 9.9% recorded one year prior and the 9.5% posted in Q1 2026.
Analysts at JPMorgan highlighted that even optimistic projections had estimated risk-adjusted NIM around 11%, making the actual figure a meaningful outperformance across multiple metrics.
The cost of credit decreased to $1.69 billion from $1.79 billion in the previous quarter. While this figure remains 60% above year-ago levels, the quarter-over-quarter decline provided relief to investors concerned by the previous quarter’s uptick.
Early-stage delinquency rates measured 4.8%, an improvement from 5% in Q1, although up 0.3 percentage points compared to last year. The ratio of non-performing loans past 90 days increased by 35 basis points to 6.9%.
Rob Livingston, who assumed the CFO position last month, indicated that the margin expansion should persist going forward. He attributed the improvement to a combination of seasonal dynamics and Brazil’s Desenrola debt-refinancing initiative, though he emphasized the program represented only approximately 5% of total credit costs.
The overall credit portfolio expanded 37% year-over-year to $39.4 billion, composed of $26 billion in credit cards, $10.3 billion in unsecured loans, and $3.1 billion in secured lending products.
Nu welcomed approximately 4 million new customers during Q2, pushing the total customer count to 139 million. The Brazilian market represents nearly 118 million of these users, with the monthly activity rate exceeding 86% for the first time on record.
Nu’s Mexican operations achieved a significant milestone in August with its full banking license launch, making it the country’s largest digital banking institution with 16 million customers. Meanwhile, the Colombian market crossed 5 million customers.
Average revenue per active customer reached approximately $17 during Q2, maintaining its upward sequential trajectory.
The company also showcased progress with its AI model NuFormer, which currently manages more than 60% of customer service interactions in Brazil. The newest iteration quadrupled both context length and inference speed while simultaneously reducing production costs.
Return on equity finished the quarter at 33%. Total customer deposits grew to $45.3 billion, representing an 18% year-over-year increase.
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