Nubank quarterly net profit beats estimates, topping $1 billion for first time

SAO PAULO, Aug 13 : Brazilian digital lender Nubank's quarterly net profit surpassed $1 billion for the first time, beating analysts' estimates, and sending shares higher late on Thursday.Nu Holdings posted net profit of $1.06 billion for the April-June quarter, a 49 per cent rise year-on-year on a foreign-exchange-neutral basis and above the $967.2 million Visible Alpha estimate. Shares in the lender, which serves nearly 139 million clients across Brazil, Mexico and Colombia and is preparing to debut in the U.S., jumped some 9 per cent in extended trading to about $15.25 each.The profit increase was driven by higher revenue and an improvement in risk-adjusted net interest margin, Chief Financial Officer Rob Livingston, who assumed the role last month, told Reuters. Net revenue increased 3