Stock Market Today, Nov. 13: Nu Holdings Surges on Record Q3 Earnings Beat Driven by Strong Revenue

The Motley Fool · 1d ago

Nu Holdings (NYSE:NU), a Latin American digital bank and consumer finance platform, closed at $13.21, up 11.71%. Premarket earnings beat forecasts and management commentary on Mexico and Colombia kept investors watching growth and efficiency next.

Trading volume reached 143.2M shares, coming in about 74% above its three-month average of 82.1M shares. Nu Holdings IPO'd in 2021 and has grown 28% since going public.

How the markets moved today

S&P 500 (SNPINDEX: ^GSPC) closed at 7,561, down 0.41%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) finished at 25,139, down 0.90%. Among digital banking and consumer finance technology peers, MercadoLibre (NASDAQ:MELI) closed at $1,491.49, up 1.11%, and PayPal Holdings (NASDAQ:PYPL) closed at $59.26, up 1.65%, as investors weighed fintech earnings strength against a softer broader market.

What this means for investors

Nu missed Wall Street's earnings and revenue targets, but that didn't matter. The market focused on the company's ambitious growth plans instead, applauding Nubank's launch in the U.S.

CEO David Vélez underscored Nubank's broad appeal with fee-free services and mobile applications for every product.

"Now we're taking the same model beyond Latin America," he said on the earnings call.

Anders Bylund has positions in Nu Holdings. The Motley Fool has positions in and recommends MercadoLibre, Nu Holdings, and PayPal. The Motley Fool recommends the following options: short December 2026 $62.50 calls on PayPal. The Motley Fool has a disclosure policy.