Bloomberg Línea — Nubank (NU) on Tuesday reported an adjusted net income of $113.8 million and net income of $58 million for the fourth quarter of 2022, versus an adjusted income of $3.2 million and a loss of $66.1 million during the same period of 2021.
The digital bank posted total revenue of $1.45 billion for the period, while analysts consulted by Bloomberg had expected revenues of $1.28 billion. Nubank’s Q4 2021 revenues totaled $636 million.
The fintech’s shares rose 5% on the New York Stock Exchange in after-market trading minutes after the results were announced.
The nubank’s customer base numbers fell short of estimates, however.
Analysts polled by Bloomberg had expected the company to have accrued 75.4 million customers at the end of 2022, but it only had 74.6 million customers, adding 4.2 million customers in the quarter and 20.7 million in the year, a 38% increase from the end of 2021.
Average revenue per active customer, one of the metrics most closely watched by analysts, increased in the year by 37% in neutral currency to $8.20, while deposits increased 55% year on year in neutral currency to $15.8 billion. The default rate also rose to 5.2% from 3.5% a year earlier.