Brazil's XP posts 7% rise in first-quarter adjusted net profit (updated)
18/05/2026 22:10
Recasts with additional numbers, details on dividends, CFO change SAO PAULO, May 18 (Reuters) - Brazilian brokerage and financial services provider XP Inc. XP.O on Monday posted a first-quarter adjusted net profit of 1.32 billion reais ($264.11 million), up 7% from a year earlier. Analysts polled by LSEG expected an adjusted net profit of 1.35 billion reais. Net revenue stood at 4.73 billion reais in the January-March quarter, an 8% increase year-on-year, but below analysts' forecast of 4.89 billion reais. In gross terms, revenue from XP's retail business, its main source of revenue, rose 10% to 3.77 billion reais. XP's total net inflow came in at 14 billion reais in the quarter, down 39% from the same period of 2025. XP also announced on Monday a transition process for its chief financial officer position. The firm said in a filing that CFO Victor Mansur will step down on May 31. The board appointed Gustavo Alejo Viviani to succeed Mansur starting August 3, with Chief Executive Thiago Maffra holding the position during the transition. The brokerage announced a cash dividend of $0.20 per common share as well, along with a new buyback program of up to 1 billion reais. ($1 = 4.9980 reais) (Reporting by Fernando Cardoso, editing by Deepa Babington) ((fernando.cardoso@thomsonreuters.com;))