XP Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023 at 05:12 pm EST
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XP Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was BRL 4,131.92 million compared to BRL 3,620.33 million a year ago. Net income was BRL 1,086.15 million compared to BRL 1,030.75 million a year ago. Basic earnings per share from continuing operations was BRL 1.9873 compared to BRL 1.8548 a year ago. Diluted earnings per share from continuing operations was BRL 1.962 compared to BRL 1.7977 a year ago.
For the nine months, revenue was BRL 10,814.53 million compared to BRL 10,170.67 million a year ago. Net income was BRL 2,856.53 million compared to BRL 2,796.1 million a year ago. Basic earnings per share from continuing operations was BRL 5.3195 compared to BRL 5.0122 a year ago. Diluted earnings per share from continuing operations was BRL 5.2813 compared to BRL 4.8566 a year ago.
XP Inc. is a Cayman Islands-based holding company. The Company owns technological platforms for investments, financial services and education, in addition to media and content platforms, including brands, such as XP, Rico, Clear, Infomoney, XPeed and IM+. It distributes a range of financial products and services, such as financial education and digital content platform, financial advisory services and open financial product platform. Xpeed is a financial education platform in Brazil, which offers courses, MBAs and learning tools, as well as a range of digital content. It advises and supports its customers in a range of activities related to the financial universe, such as advisory services for institutional clients, private banking for high income clients, international financial services, structuring and issuance of financial products for corporate clients and issuers. It offers an open financial product platform to its clients, encompassing both proprietary and partnership products.