XP Inc. - XP STOCK NEWS

XP Inc. (NASDAQ: XP) reported its financial results for the second quarter of 2023, showing a 3% year-over-year increase in gross revenue. Retail revenue grew by 8% year-over-year, driven by various factors including stabilization in equities revenue, sequential rebound in fixed income revenue, and strong growth in new verticals revenue. The Annualized Retail Take Rate was 1.30% in 2Q23, up 9 bps QoQ. Earnings Before Taxes (EBT) increased by 12% year-over-year, reaching R$968 million in 2Q23. Net Income was R$977 million, up 7% year-over-year. The Company will host a webcast to discuss its second quarter financial results on Monday, August 14th, 2023.

XP Inc. (Nasdaq: XP) announced its 2Q23 KPIs, including a 21% YoY increase in client assets to R$1.0 trillion and a 7% QoQ increase. The NPS was 76, and the total credit portfolio reached R$17.9 billion. Active clients grew 1% QoQ and 11% YoY, totaling 4.0 million in 2Q23.

XP Inc. announces the termination of its shareholders agreement, improving corporate governance practices and board composition. The Iupar Group loses the right to nominate board members, but retains registration rights when selling shares. GA can nominate one board member with a minimum 2% ownership. The board will be reduced to 9 members.

XP Inc. (NASDAQ: XP) reported its 1Q23 results, showing Client Assets of R$954 billion, reflecting a 9% year-over-year increase driven by R$125 billion in net inflows despite R$44 billion in market depreciation. However, Net Inflow dropped to R$16.2 billion, down 48% quarter-over-quarter and 65% year-over-year, with Retail Net Inflow at R$15.5 billion. Active clients grew to 4 million, a 2% increase QoQ and 13% YoY. The company maintains its position as Brazil's leading independent financial platform with 13,000 independent financial advisors. Notably, Total Cards TPV surged 90% YoY to R$8.6 billion. The credit portfolio expanded 53% YoY, reaching R$17.5 billion, maintaining a 0.0% NPL ratio. A webcast to discuss detailed financial results is scheduled for May 15, 2023.

XP Inc. (NASDAQ: XP) announced its 2022 financial results, showing a 10% revenue growth to R$14 billion, despite a challenging market. Key highlights include stable net income at R$3.58 billion and a decrease in basic EPS by 19% to R$6.44. The company reported a 16% increase in total client assets, reaching R$946 billion, and a net inflow of R$155 billion for the year. However, 4Q22 saw a decline in revenue and margins, with gross profit dropping 13%. Moving forward, XP plans to adjust its cost structure and has set an EBT margin guidance of 26% to 32% for 2023-2025, emphasizing resilience and long-term growth prospects.

XP Inc. (NASDAQ: XP) reported its 4Q22 KPIs, revealing significant growth in client assets, which totaled R$946 billion, a 16% year-over-year increase. Despite a challenging economic environment in Brazil with rising interest rates, the company achieved net inflows of R$155 billion for the year. However, 4Q22 net inflows were R$31 billion, down 11% QoQ and 36% YoY. Active clients reached 3.9 million, growing 14% YoY. The firm's network of Independent Financial Advisors (IFAs) expanded by 20% YoY. Notably, the credit portfolio grew 67% YoY, reaching R$17.1 billion, with a very low NPL ratio of 0.1%. This performance underscores XP's resilience in a tough market.

XP Inc. (NASDAQ: XP) has entered into a share purchase agreement to acquire 5,500,000 Class A shares from Itaúsa S.A. for approximately $105 million. This purchase mirrors a prior transaction on November 9, 2022, where Itaúsa sold 10,000,000 shares. The company plans to utilize existing cash for this repurchase, with shares to be held in treasury, and emphasizes that this is not part of its previously announced Share Repurchase Program from May 11, 2022.

XP Inc. (NASDAQ: XP) reported its Q3 2022 financial results, revealing a 13% increase in gross revenue to R$3.81 billion. Active clients rose 15% year-over-year to 3.8 million, driven by retail and corporate growth. However, retail revenue growth was modest at 2%, primarily due to reduced trading activity. The company introduced new EBT margin guidance of 26%-32% for 2023-2025 and announced a R$1 billion increase in its share repurchase program. While net income rose 10% to R$1.03 billion, the annualized return on equity declined to 24.4% amid rising expenses and changing market conditions.