May. 14 at 10:46 PM
$NU earnings snapshot:
Quarter looks a lot like
$MELI.
Strong revenue. Weak margins.
Spending on growth as they talked about last quarter.
Also
$NU turned net income positive in Mexico this quarter.
Big milestone for their 2nd largest market.
Good proof point for their Brazil model working in many more places.
"In Mexico, the same earnings-generating formula that built Brazil has reached its inflection point. We have achieved break-even and become the third largest financial institution in the market, reaching 15 million customers." -- Investor materials