What Wall Street Expects From Nu Holdings (NU) Earnings Today

TLDR

• Nu Holdings reports Q1 2026 earnings Thursday after market close, with analysts expecting EPS of $0.20 and revenue of $4.97 billion
• That would represent 73% EPS growth and 57% revenue growth year-over-year
• NU has 131 million customers, making it the largest bank in Brazil by customer count
• The company received conditional U.S. national bank charter approval in January 2026
• Analyst mean price target is $19.87, roughly 55% above the current price of ~$12.82

Nu Holdings is set to report first-quarter 2026 earnings Thursday after the bell. The stock is trading around $12.82, well below its 52-week high of $18.98, and investors are hoping the results can close that gap.

Nu Holdings Ltd., NU

Wall Street is looking for EPS of $0.20 and revenue of $4.97 billion. Both would be step-ups from Q4 2025, when the company posted EPS of $0.19 and revenue of $4.9 billion.

Year-over-year, the bar is high. Analysts project earnings per share up 73% and revenue up 57% from the same quarter last year.

EPS estimates have nudged up 0.41% over the past 60 days. Revenue estimates have stayed flat, pointing to steady confidence going into the print.

The analyst community is broadly bullish. The mean price target sits at $19.87, implying around 55% upside from current levels.

The company’s customer base now stands at 131 million after adding 4 million new users in the most recent quarter. That makes Nubank the largest bank in Brazil by customer count and the largest credit card issuer in Mexico.

Investors will be paying close attention to revenue per active customer. Growth in total users is one thing — turning those users into more profitable ones is another.

U.S. Expansion in Focus

The biggest story heading into earnings may not be Latin America at all. In January 2026, Nu received conditional approval for a U.S. national bank charter, cracking open the door to the world’s largest banking market.

CEO David Vélez has called 2026 an “inflection year,” framing the company’s ambitions as a shift from Latin American leader to global digital banking platform. Analysts and investors will be watching for any concrete details on product plans and a U.S. launch timeline.

Heavy Investment, Self-Funded

Nu plans to invest $8.2 billion in Brazil in 2026 — nearly double what it spent two years ago. The key detail: that spend is being funded from reinvested profits, not fresh capital raises.

That self-funding model is seen as a sign of strong unit economics. But investors will want to see evidence that returns on that reinvestment hold up.

In Q4 2025, revenue of $4.9 billion beat consensus estimates by 29%. EPS of $0.19 came in just short of forecasts. The top-line strength was the headline that quarter.

Nu’s market cap sits at roughly $62.3 billion. Its P/E ratio of 21.88x is near a three-year low, which some analysts see as a reasonable entry point given the growth profile.

Insider activity over the past three months showed $4.4 million in stock sales and no purchases — a minor cautionary note worth tracking but not unusual at this stage of growth.

Thursday’s report will show whether momentum from Q4 carried into the new year.

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