NU Holdings（NU）股票價格下跌17.2％。

數字銀行公司NU Holdings（NYSE：NU）在發布其第四季度的收益報告後，週五交易中的股價下降了多達17.2％，這表明結果不同，並引起了投資者對未來增長前景的關注。

Digital banking company Nu Holdings (NYSE: NU) stock price dropped as much as 17.2% in Friday trading after the company reported mixed fourth-quarter results that left investors questioning the company’s future growth prospects.

數字銀行公司NU Holdings（NYSE：NU）股價在周五的交易中下跌了多達17.2％，此前該公司報告了第四季度的結果混合的結果，這使投資者質疑該公司的未來增長前景。

The fintech giant reported Q4 revenue of $2.99 billion, missing Wall Street's expected $3.17 billion. While the company matched earnings predictions with non-GAAP earnings of $0.12 per share, the revenue miss and guidance for increased investment spending in 2025 triggered a sharp market reaction.

這家金融科技巨頭報告說，第四季度的收入為29.9億美元，缺少華爾街的預期31.7億美元。儘管該公司將收益預測與每股0.12美元的非GAAP收益相匹配，但2025年增加投資支出的收入失誤和指導引發了市場反應。

Despite the market’s negative response, Nu’s customer base continued to show robust growth. The company reported 114.2 million customers at the end of 2024, a 22% increase from the previous year. This expansion included notable gains in key markets, with Mexico surpassing 10 million customers and Colombia reaching 2.5 million.

儘管市場反應負面反應，但NU的客戶群繼續表現出強勁的增長。該公司在2024年底報告了1.12億客戶，比上一年增長了22％。這一擴展包括在主要市場中取得的顯著收益，墨西哥超過1000萬客戶，哥倫比亞達到250萬。

Purchase volume also showed positive momentum, rising to $32.2 billion in Q4 from $30.9 billion in Q3, exceeding market expectations. However, this increase in transaction volume did not translate into proportional revenue growth, raising questions about the company’s pricing power.

購買量還顯示出積極的勢頭，在第三季度的309億美元中，第4季度的勢頭增長到322億美元，超出了市場預期。但是，交易量的增加並未轉化為比例的收入增長，從而引發了有關公司定價能力的問題。

For the full year 2024, Nu posted impressive growth metrics, with total revenue reaching $11.5 billion, marking a 58% increase from 2023. The company’s net income nearly doubled to $2 billion, demonstrating its ability to scale profitably despite competitive pressures.

在2024年全年，NU發布了令人印象深刻的增長指標，總收入達到115億美元，比2023年增加了58％。該公司的淨收入幾乎翻了一番，達到20億美元，表明儘管有競爭性壓力，但其淨收入能力賺錢。

A key concern emerging from the earnings report was the decline in net interest margins (NIM), which fell by 70 basis points to 17.7%. This compression was attributed to foreign exchange fluctuations and the company’s strategic shift toward lower-risk loans.

收益報告中出現的一個關鍵問題是淨利率利潤率下降（NIM）下降了70個基點，至17.7％。這種壓縮歸因於外匯波動以及公司向低風險貸款的戰略轉變。

Lending Portfolio GrowthThe company’s secured lending portfolio demonstrated exceptional growth, increasing by 615% year-over-year. This rapid expansion in secured lending reflects Nu’s efforts to diversify its product offerings and build a more stable revenue base.

貸款投資組合增長公司的確保貸款投資組合表現出非凡的增長，同比增長615％。有抵押貸款的這種快速擴張反映了NU為多樣化其產品多樣化並建立更穩定的收入基礎的努力。

Monthly activity rates showed a slight decline to 83.1%, which the company attributed to its rapid expansion into newer markets where customer engagement typically starts lower and builds over time.

每月的活動率顯示出略有下降至83.1％，該公司歸因於其迅速擴展到新的市場，在這些市場中，客戶參與通常開始較低並隨著時間的推移而建造。

Nu has achieved a notable milestone in Brazil, becoming the country’s third-largest financial institution by customer count. The company continues to strengthen its ecosystem through new services like NuTravel and NuCel, indicating ongoing efforts to diversify revenue streams.

NU在巴西取得了一個著名的里程碑，根據客戶數量成為該國的第三大金融機構。該公司繼續通過Nutravel和Nucel等新服務來增強其生態系統，這表明正在進行的努力使收入流多樣化。

CEO David Vélez announced that 2025 would be “another big investment year” for the company, focusing on expanding infrastructure and customer base in Brazilian, Mexican, and Colombian markets. This strategic decision, while potentially beneficial for long-term growth, may impact near-term profitability.

首席執行官DavidVélez宣布，2025年將是該公司的“另一個重要投資年份”，重點是擴大巴西，墨西哥和哥倫比亞市場的基礎設施和客戶群。這一戰略決策雖然可能對長期增長有益，但可能會影響近期盈利能力。

The company maintains a strong financial position with a 29% annualized return on equity, placing it among the most profitable fintech companies globally. Asset quality metrics have shown improvement, supported by a disciplined cost structure.

該公司的財務狀況保持穩定，股本的年齡為29％，將其置於全球最有利可圖的金融科技公司中。資產質量指標已顯示出改進，並得到了紀律處分的成本結構的支持。

Revenue Growth SlowsRevenue growth in the fourth quarter slowed to 24.6% year-over-year, marking the lowest growth rate in recent years. This deceleration, combined with margin pressures, has contributed to investor concerns about the sustainability of Nu’s high-growth trajectory.

第四季度的收入增長趨於增長，同比增長24.6％，標誌著近年來增長率最低。這種減速以及利潤壓力加劇了投資者對NU高增長軌跡可持續性的關注。

The market reaction reflects growing scrutiny of Nu’s ability to balance rapid expansion with profitability. While the company continues to add customers at a brisk pace, investors appear increasingly focused on margins and revenue per customer metrics.

市場反應反映了NU平衡快速擴張與盈利能力的能力的審查。儘管該公司繼續以快速的速度增加客戶，但投資者似乎越來越專注於每個客戶指標的利潤和收入。

Currency fluctuations remain a challenge for Nu, as foreign exchange movements impact the company’s financial results and create additional complexity in managing international operations.

貨幣波動仍然是NU的挑戰，因為外匯運動會影響公司的財務業績，並在管理國際運營方面創造了額外的複雜性。

The latest quarterly results show Nu’s success in building scale and market presence, but also highlight the challenges of maintaining growth rates while adapting to changing market conditions and customer preferences.

最新的季度業績表明，NU在建築規模和市場業務方面取得了成功，但也強調了維持增長率的挑戰，同時適應不斷變化的市場狀況和客戶偏好。