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Buffett-Backed Nubank Surges After Profit Triples, Revenue Jumps

  • CEO says the company is prepared for changing economic cycle
  • Percentage of loans more than 90 days overdue rises to 4.7%
Nubank CEO David Velez
Nubank CEO David VelezPhotographer: Rodrigo Capote/Bloomberg
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Nu Holdings Ltd., the Brazilian digital lender that counts Warren Buffett’s Berkshire Hathaway Inc. as a backer, soared 15% in early trading after posting a surge in third-quarter profit and revenue. 

Shares of the company, which had slumped 54% this year through Monday, climbed to $5 from $4.35 at 7:30 a.m. in early trading.