Latest news with #AndreRomani
The Star
02-06-2025
- The Star
Police find British journalist reported missing in Brazil
SAO PAULO (Reuters) - Rio de Janeiro police said on Monday that a British journalist reported missing nearly four months ago had been out of contact with her family voluntarily and the case has been closed. Charlotte Alice Peet, who had worked as a freelance reporter in Brazil for Al Jazeera and British news outlets, went missing in early February. She was located in a Sao Paulo hostel, police said on Monday, adding she "expressed her desire not to have contact with her family." (Reporting by Andre Romani; Editing by Cynthia Osterman)
Yahoo
13-05-2025
- Business
- Yahoo
Brazil's Nubank posts 37% increase in first-quarter adjusted net profit
By Andre Romani SAO PAULO (Reuters) - Nu Holdings, the listed entity which runs Brazilian digital lender Nubank, posted on Tuesday a 37% increase in its adjusted net profit from a year earlier, slightly missing analysts' estimates. Nubank reported a $606.5 million adjusted net profit for the quarter ended in March, while analysts in an LSEG poll had expected a $630.5 million profit. The result, which was positively impacted by $47 million before taxes due to a revision of fiscal credits, also came in under a company-provided consensus of $614 million. Chief Financial Officer Guilherme Lago told Reuters that the profit increase was mainly due to greater profitability in its main market Brazil, with a larger personal loan portfolio and greater earnings leverage. Nubank, which also operates in younger markets Colombia and Mexico, said its total revenues came in at $3.2 billion, increasing 19% year-on-year. Annualized non-adjusted return on equity for the Brazilian digital lender, which counts Warren Buffett's Berkshire Hathaway among its shareholders, stood at 27%, increasing 4 percentage points from a year earlier, but dropping two points from the last quarter of 2024. The bank ended the quarter with a $24.1 billion credit portfolio, up 23% from a year earlier. Meanwhile, the default ratio for over 90 days reached 6.5%, rising from 6.3% in the same quarter last year, although declining from the 7% in the previous quarter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Brazil's Nubank posts 37% increase in first-quarter adjusted net profit
By Andre Romani SAO PAULO (Reuters) - Nu Holdings, the listed entity which runs Brazilian digital lender Nubank, posted on Tuesday a 37% increase in its adjusted net profit from a year earlier, slightly missing analysts' estimates. Nubank reported a $606.5 million adjusted net profit for the quarter ended in March, while analysts in an LSEG poll had expected a $630.5 million profit. The result, which was positively impacted by $47 million before taxes due to a revision of fiscal credits, also came in under a company-provided consensus of $614 million. Chief Financial Officer Guilherme Lago told Reuters that the profit increase was mainly due to greater profitability in its main market Brazil, with a larger personal loan portfolio and greater earnings leverage. Nubank, which also operates in younger markets Colombia and Mexico, said its total revenues came in at $3.2 billion, increasing 19% year-on-year. Annualized non-adjusted return on equity for the Brazilian digital lender, which counts Warren Buffett's Berkshire Hathaway among its shareholders, stood at 27%, increasing 4 percentage points from a year earlier, but dropping two points from the last quarter of 2024. The bank ended the quarter with a $24.1 billion credit portfolio, up 23% from a year earlier. Meanwhile, the default ratio for over 90 days reached 6.5%, rising from 6.3% in the same quarter last year, although declining from the 7% in the previous quarter. Sign in to access your portfolio
Yahoo
22-02-2025
- Business
- Yahoo
Brazil's Nubank expects to unveil new market this year
By Andre Romani SAO PAULO (Reuters) -Nubank, one of the fastest-growing digital lenders in the world, plans to announce an expansion this year after sweeping through its home market Brazil as well as Mexico and Colombia, an executive at the firm said on Thursday, as fourth-quarter profits grew. The 87% jump in adjusted net profit, boosted by higher revenues and a larger client base, was not enough to lift shares, however, which slid in after-hours trading. Nubank, which is listed on the New York Stock Exchange through Nu Holdings, grew its client base 22% year-on-year to top 114 million customers at the end of December. Nubank expects to announce its latest market after Brazil, Mexico and Colombia by the end of this year, Jorg Friedemann, Nubank's director of investor relations, told Reuters in an interview. "We are not ready yet to make any more specific announcements about where the next geography will be," he added. Nubank's management has been hinting at further expansion for several quarters. Investors and analysts are waiting for more details on timing and location. Last month, CEO David Velez said that deregulation could make the U.S. banking sector more interesting for new entrants, while noting Europe was not a priority for Nubank. "2025 will be the year in which we begin to establish the foundations for Nubank to become a technology company that can operate in multiple countries and regions," Friedemann said. The Warren Buffett-backed firm on Thursday posted an adjusted net profit of $610 million for the quarter ended in December, above the $567 million estimated by analysts in an LSEG poll. Still, shares of Nu Holdings were down some 6% in after-hours trading to about $12.55 after results were published. Revenues rose 50% in the quarter, excluding foreign-exchange effects, to $2.99 billion, below analysts' estimate of $3.29 billion. Citi analysts said in a note to clients that their read-through of the results was mostly negative, with key performance indicators on the revenue side "decelerating markedly" and the bank reducing some provisions indicators. Sign in to access your portfolio
Yahoo
22-02-2025
- Business
- Yahoo
MercadoLibre's fourth-quarter net profit beats forecast, shares jump
By Andre Romani SAO PAULO (Reuters) -Latin American e-commerce giant MercadoLibre posted a better-than-expected quarterly net profit on Thursday, up nearly four-fold from the same period a year earlier and sending its shares up more than 12% in after-hours trading. MercadoLibre, Latin America's largest company by market value, said net income for the October-to-December quarter came in at $639 million, up 287% year-on-year and well above the $401.5 million expected by analysts in an LSEG poll. Chief Financial Officer Martin de los Santos told Reuters the results reflected lower funding costs and improved logistics efficiency, particularly in Mexico, as well as lower losses with currency, especially in Argentina. MercadoLibre's net revenue came in at $6.1 billion, up 37% year-on-year and above estimates of $5.9 billion, with sales measured by gross merchandise volume rising 8% year-on-year, driven by 32% growth in its main market Brazil on a foreign exchange-neutral basis. New York-listed shares of MercadoLibre jumped nearly 13% in post-market trade to about $2,380. "A solid beat with higher top line and much better margins," Jefferies analysts wrote in a note to clients. MercadoLibre's shares had fallen after a quarterly miss in November, with analysts citing higher logistic investments and credit ramp-up. "Margins for a company that don't go in a straight line are sometimes hard to predict from the outside," de los Santos said on Thursday. "We are trying to convey to the market that we will not shy away from investing in growth opportunities," he added, noting management believes this will make the company able to dilute fixed costs in the long term and continue being profitable. Its earnings before interest and taxes came in at $820 million in the quarter ended in December, above analysts' expectations of $612 million and up 144% from a year earlier, when results were hurt by a tax hit in the fourth quarter. MercadoLibre's credit portfolio also rose, reaching $6.6 billion from $6 billion in September, while its 90-day-plus default ratio fell to 17.5% from 17.9% in the period. Osvaldo Gimenez, head of MercadoLibre's fintech arm, said in a call with analysts that the company has taken some measures, including reducing the issuance of some credit card segments in Brazil and Mexico, to reduce risk at the margin level. "Essentially, we're being a little bit more cautious," Gimenez said, noting the decision in Brazil was based on a weaker macroeconomic outlook and a rise in interest rates. "Management comments on credit performance remain reassuring, with limited measures to reduce risk in specific tiers," the Jefferies analysts said.
