XP Inc on Tuesday reported second-quarter 2026 profit that exceeded analyst expectations, even as its shares slipped in after-hours trading.
The Brazilian fintech company, which provides brokerage, asset management and digital banking services, posted earnings per share of 1.42 reais, topping the 1.35-real consensus estimate compiled by Refinitiv. Revenue rose 12% year-over-year to 4.8 billion reais, driven by higher trading volumes and growth in its asset management business.
Chief Executive Officer Tércio Borlato highlighted continued expansion in XP’s core markets, including a 15% increase in client assets under management to 1.2 trillion reais. The company also cited strong adoption of its digital investment platform, which now serves over 5.2 million active users, up from 4.6 million in the prior-year period.
Despite the positive financial performance, XP’s shares fell 3.2% in extended trading as investors focused on macroeconomic headwinds in Brazil, including elevated interest rates and regulatory uncertainty. The stock had gained 1.8% during regular trading hours.
Analysts at BTG Pactual maintained a neutral rating on XP, citing valuation concerns, while UBS upgraded the stock to buy from neutral, citing its market-leading position in Brazil’s fintech sector. XP’s shares have declined 8% over the past month, underperforming the broader Brazilian equity benchmark.
The company reaffirmed its full-year 2026 guidance, projecting revenue growth of 10-12% and net income growth of 15-18%, supported by sustained demand for its financial products and services.
XP Inc is listed on the Nasdaq under the ticker XP and on the B3 in Brazil under the ticker XPBR33.
