XP Inc. - XP STOCK NEWS

XP Inc. (NASDAQ: XP) reported strong Q2 2021 results, highlighting an 88% year-over-year growth in Assets Under Custody (AUC) to R$817 billion. Active clients increased by 33% to 3,140,000, driving gross revenues up 57% to R$3.2 billion. Notable increases included Retail revenues rising 66% and Issuer Services surging 293%. Adjusted Net Income grew 83% to R$1,034 million with a net margin of 34.2%. The company remains focused on digital transformation and expanding its market footprint amid competitive pressures, aiming to capture a more significant share of Brazil's R$800 billion financial sector.

XPAC Acquisition Corp. priced its initial public offering of 20 million units at $10.00 each, beginning trading on Nasdaq under the ticker symbol 'XPAXU' on July 30, 2021. Each unit comprises one Class A ordinary share and one-third of a redeemable warrant, with whole warrants allowing purchase of one Class A share at $11.50. The company, sponsored by XPAC Sponsor LLC affiliated with XP Inc., aims to target businesses in Brazil across various sectors. Citigroup serves as the book-running manager, and the offering includes a 45-day option for the underwriter to purchase additional units.

XP Inc. (Nasdaq: XP) announced it will host a webcast to discuss its Q2 2021 financial results on August 3, 2021, at 5:00 pm ET. A press release with the results will be issued after market close the same day. XP, a technology-driven platform in Brazil, aims to democratize access to financial services and empower clients through innovative products. The company offers a range of financial advisory services and over 800 investment products. Interested participants can register for the webcast and find the replay on XP’s investor relations website.

XP Inc. (Nasdaq: XP), a leading Brazilian financial services platform, reported robust performance for 2Q21. Key highlights include a 43% quarter-over-quarter increase in the credit portfolio to R$6.8 billion, and a significant 316% growth in credit card TPV to R$2.1 billion. Total assets under custody reached R$817 billion, reflecting an 88% year-over-year increase. Active clients grew 33% year-over-year, although average monthly additions dropped. The company aims to release full financial results on August 3, 2021.

XP Inc. (Nasdaq: XP) announced its acquisition of a minority stake in Jive Investments, Brazil's largest independent alternative investment manager, focusing on distressed assets. Jive currently manages about R$8 billion in assets and aims to expand its offerings to retail investors while enhancing liquidity in the secondary market. This partnership aligns with XP's strategy to support independent asset managers and foster an entrepreneur-friendly ecosystem. The closing of the transaction is pending approval from the Administrative Council for Economic Defense (Cade).

XP Inc. (Nasdaq: XP) has priced an offering of US$750 million in 3.250% senior unsecured notes due 2026, guaranteed by XP Investimentos S.A. The transaction is set to close on July 1, 2021, pending customary conditions. Proceeds will be utilized for general corporate purposes. The notes are available to qualified institutional buyers under Rule 144A and compliant with Regulation S, and will not be registered under the Securities Act. XP aims to disintermediate traditional financial models by educating investors and democratizing access to financial services.

XP Inc. (Nasdaq: XP) has announced an agreement to acquire a minority stake in Giant Steps, Brazil's largest quantitative investment manager with R$7 billion in assets. This collaboration aims to enhance Giant Steps' national and international growth, expand its product portfolio, and recruit talent abroad. The quantitative fund sector is growing rapidly, with Giant Steps leading this market in Brazil. Additionally, Giant Steps has impressive performance metrics, including a 290% return since 2012 for its flagship fund. The deal is pending regulatory approvals.

XP Inc. (Nasdaq: XP) commented on the expanding investment advisory sector in Brazil, focusing on the Independent Financial Advisor (IFA) model, which has been pivotal in its growth. With over 20 years of experience, XP has successfully nurtured the IFA profession, leading to exponential growth due to rising demand for financial products. The company noted a 80% custody retention rate across its advisor network despite some offices leaving. XP aims to further differentiate itself as a top platform for entrepreneurs, committed to transforming Brazil’s financial landscape.

XP Inc. (NASDAQ: XP) reported a robust performance in Q1 2021, with key metrics showing significant growth. Assets Under Custody (AUC) rose by 96% year-over-year to R$715 billion. Active clients increased by 47% to nearly 3 million. Gross revenues reached R$2.78 billion, a 50% increase, while net income more than doubled, soaring by 104% to R$846 million. The company is evolving from a pure investment platform to a broader financial services provider, aiming to enhance client offerings with banking services. The new CEO, Thiago Maffra, is expected to drive further innovation.