BUZZ-Brazil's Nu slides after bank's Q4 revenue misses estimates

Reuters
02-21
BUZZ-Brazil's Nu slides after bank's Q4 revenue misses estimates

** Brazilian digital lender Nu Holdings' NU.N shares plunge as much as 16%; last down 14.5% at $11.41

** NU late Thursday posted Q4 revenue of $2.99 billion, below analysts' expectations of $3.29 billion, according to estimates compiled by LSEG

** Citi analysts say their read-through of the results was mostly negative, with key performance indicators on the revenue side "decelerating markedly"

** NU seems to be taking a more prudent stance towards origination, mainly on credit cards, they said

** Jefferies says NU de-risking on credit cards was still affecting revenue growth

** As of last close, NU stock up 28.8% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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