XP Q2 Net Revenue Climbs 9% on Equities and Funds Strength
XP is trading near its 52-week low of $14.8 (5.1% above the low).
Summary
XP reported Q2 net revenue of BRL 4.88 billion, up 9% year-over-year, driven by double-digit growth in equities and funds platform and a 32% jump in wholesale banking revenue. Adjusted diluted EPS rose 9% to BRL 2.67. Fixed income mark-to-market losses partially offset retail gains. Management targets a BIS ratio of 16%-19% by year-end through capital distributions. This follows the chairman's control group reducing its stake in July and a significant shareholder registering $80 million in shares for sale, suggesting ongoing ownership shifts. The results confirm resilient growth in core businesses despite fixed income headwinds.
At the time of this announcement, XP was trading at $15.56 on NASDAQ in the Finance sector, with a market capitalization of approximately $8.1B. The 52-week trading range was $14.80 to $23.13. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.