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Fintech company Nu Holdings' Q2 revenue increased by 39% to $5.9 billion, with net profit exceeding $1 billion for the first time, and its stock price rose by 13% at Friday's open.
Nu Holdings, the parent company of Brazilian digital bank NuBank, reported second-quarter results that exceeded market expectations. The company's active accounts reached 138.9 million, a 13% year-over-year increase; average revenue per active customer (ARPAC) grew by 22% year-over-year to $17.10. Additionally, customer deposits increased by 18% year-over-year, and the credit card and loan portfolio size grew by 37% year-over-year. Although the stock price rose by 13% after opening on Friday, it is still slightly down year-to-date.
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