May 13, 09:54 PM

GigaCloud Posts Q1 EPS $0.83; Nu Holdings Reports $3.2B Revenue, $557M Net Income, 118.6M Customers, Shares Down 5%

GigaCloud Technology reported its first-quarter 2025 results with adjusted earnings per share of $0.83 and revenue of $271.9 million, marking an 8% year-over-year increase. Gross merchandise volume rose 56% to $1.4 billion, and active buyers increased by 81%, reflecting rapid growth of the GigaCloud Marketplace despite challenging macroeconomic conditions. Meanwhile, Nu Holdings, one of the largest digital banks globally, posted mixed first-quarter 2025 earnings. The company reported revenue of approximately $3.2 billion to $3.25 billion, representing a 19% to 40% year-over-year increase, with net income reported at $557.2 million. Earnings per share ranged from $0.11 to $0.12, missing some analyst estimates. Nu added 4.3 million new customers, bringing its total customer base to 118.6 million. Deposits increased 48% year-over-year on a foreign exchange-neutral basis to $31.6 billion, and the efficiency ratio improved to 24.7%. Despite the growth in revenue and customer base, shares of Nu declined by about 5% after hours, attributed to lower-than-expected purchase volumes and higher provisions. JPMorgan anticipates solid portfolio growth for Nubank but expects profits to fall below consensus due to increased provisions and seasonal factors. Analysts note that Nu's business continues to expand at double-digit rates in new markets, with increasing operating leverage driven by its digital-only banking model and AI/software efficiencies.