XP Reports 7% Q1 Profit Gain as Shares Drop on Fixed‑Income Hit

Overview

• XP, which reported first‑quarter results Monday, posted adjusted net income of R$1.318 billion on R$4.733 billion in net revenue and a 30% EBT margin.
• Shares fell about 4.9% on Tuesday after banks said results missed estimates by roughly 3% and losses from marking fixed‑income assets to market cut into revenue.
• Valor reported that retail inflows were lifted by a R$19 billion reimbursement tied to Master clients, with about 77% of roughly R$25 billion already paid remaining at XP.
• The company approved a buyback of up to R$1 billion and declared R$500 million in dividends payable on June 18.
• Client assets rose to R$1.529 trillion, up 15% from a year earlier, and XP said its regulatory capital ratio ended March at 20.7%.