Nu Holdings Approves $1 Billion Buyback After Q1 Revenue Hits $5.32 Billion
NU•Nu Holdings' board approved a $1 billion share repurchase program running through June 3, 2027, to be funded from retained and future earnings, with buybacks via open market, derivatives or private deals. In Q1, revenue climbed 42% to $5.32 billion, net income rose 41% to $871 million, and customer base expanded to 135 million.
1. Share Buyback Details
On June 4, Nu Holdings' board authorized a $1 billion share repurchase program effective through June 3, 2027. The company may execute buybacks in the open market, via derivative transactions or through privately negotiated deals, with repurchased shares held in treasury or canceled.
2. Q1 Financial Performance
In the first quarter of 2026, Nu reported revenue of $5.32 billion, a 42% year-over-year increase, and net income of $871 million, up 41%. Return on equity reached 29% and the firm added 4 million customers, bringing its total to 135 million globally.
3. AI Integration Strategy
CEO David Velez emphasized that Nu is rebuilding banking around AI, deploying its NuFormer proprietary models into production for credit card decisioning and unsecured lending to drive underwriting efficiency.
4. Market Context and Leadership Change
Despite a market capitalization near $60 billion, shares are down 28% year-to-date with an RSI at 29 and trading 8.3% below the 20-day average. Rob Livingston will become CFO on July 13, reinforcing the firm's financial leadership ahead of continued growth initiatives.
