XP Inc. (XP) Climbs on 7th Day on Strong Earnings

We recently published 10 Stocks Crushing Wall Street’s Wildest Expectations. XP Inc. (NASDAQ:XP) is one of the best performers on Thursday.

Shares of XP Inc. (NASDAQ:XP) rallied for a 7th consecutive day on Thursday, adding 8.68 percent to close at $18.58 apiece as investor sentiment continued to be bolstered by a strong earnings performance in the second quarter of the year.

In an updated report, the Brazilian investment management firm said it grew its net income by 18 percent to R$1.3 billion from the R$1.12 billion registered in the same period last year. Net revenues rose by 6 percent to R$4.455 billion from R$4.219 billion year-on-year.

XP Inc. (XP) Climbs on 7th Day on Strong Earnings

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Earnings per share stood at R$2.46, topping consensus estimates of R$2.35 and growing faster than its net income, due to a robust share buyback program that resulted in a significant reduction in the number of shares in circulation.

During the period, total client assets also stood at R$1.4 trillion, higher by 14 percent than the R$1.204 trillion recorded in the same period last year, primarily driven by a R$96 billion net inflow and R$72 billion of market appreciation.

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