XP Inc. Reports First Quarter 2026 Financial Results

XP Inc. (NASDAQ: XP) reported its first quarter 2026 financial results, showing mixed performance with year-over-year growth but some quarter-over-quarter declines. Gross revenue reached R$4.9 billion, up 8% YoY but down 7% QoQ. Adjusted net income was R$1.3 billion, increasing 7% YoY but down 1% QoQ. The company maintained strong client assets of R$1.5 trillion (up 15% YoY) and 4.8 million active clients (up 2% YoY). Key financial metrics show adjusted diluted EPS of R$2.49 (up 9% YoY), EBT of R$1.4 billion (up 8% YoY), and a BIS capital ratio of 20.7%. The company announced a new R$1 billion share buyback program and R$500 million in dividends to be paid in June 2026. Retail revenue grew 10% YoY to R$3.8 billion, while wholesale banking revenue increased 26% YoY to R$1.1 billion. The company's capital management strategy includes targeting a BIS ratio of 16-19% by year-end through capital distributions.