Nu Holdings Ltd. ( NU ) shares are trading lower following the company's fourth-quarter revenue miss.

What To Know: The digital banking company reported fourth-quarter revenue of $2.99 billion, falling short of analyst estimates of $3.29 billion. Earnings per share came in at 11 cents, matching expectations.

Despite the revenue miss, Nu Holdings ( NU ) continued to expand its customer base, adding 4.5 million new users in fourth-quarter, bringing its total to 114.2 million, a 22% increase year-over-year. The company also became the third-largest financial institution in Brazil by customer count. CEO David Vélez highlighted advancements in the company's high-income strategy in Brazil, as well as growth in Mexico and new offerings like NuCel and NuTravel.

Nu's interest-earning portfolio reached $11.2 billion by the end of the quarter, with its credit card portfolio growing 28% year-over-year and total deposits surging 55%. However, the revenue miss overshadowed these growth metrics, leading to the stock’s sharp decline.

NU Price Action: Nu Holdings ( NU ) shares were down 15.7% at $11.25 at the time of writing, according to Benzinga Pro.

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