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SÃO PAULO - XP Inc. (NASDAQ:XP), Brazil’s leading tech-enabled financial platform, reported better-than-expected third-quarter results on Monday, with record net income driving shares up 4% in response to the earnings beat.
The company posted adjusted earnings per share of R$2.47, exceeding analyst estimates of R$2.42, while revenue reached R$4.94 billion, surpassing the consensus forecast of R$4.64 billion. Revenue grew 9% compared to the same period last year, primarily driven by strong performance in Corporate & Issuer Services, which jumped 32% year-over-year.
Net income hit a record R$1.33 billion in the third quarter, up 12% from R$1.19 billion in the same period last year. The company’s total client assets reached R$1.43 trillion, increasing 12% YoY, supported by R$29 billion in net inflows during the quarter.
XP’s expanded loan portfolio grew 33% YoY to R$67 billion, while gross written premiums in insurance increased 25% to R$451 million. The company maintained a solid Return on Tangible Equity (ROTE) of 28.0%, though this represented a slight decrease of 32 basis points from the same quarter last year.
The company announced a new R$1 billion share buyback program and declared R$500 million in dividends to be paid before year-end. XP has already executed R$842 million in share repurchases through October 2025, reflecting its commitment to returning capital to shareholders while maintaining a strong capital position with a BIS ratio of 21.2%.
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