04:48 PM EDT, 05/20/2025 (MT Newswires) -- XP (XP) reported Q1 adjusted earnings Tuesday of 2.29 Brazilian reais ($0.40) per diluted share, up from 1.85 reais a year earlier.

A lone analyst polled by FactSet expected 2.22 reais.

Net revenue rose to 4.35 billion reais, up from 4.05 billion reais a year earlier.

Analysts surveyed by FactSet expected 4.45 billion reais.

XP's board authorized a new stock buyback program for the repurchase up to the amount in dollars equivalent of 1 billion reais in Class A shares.

The buyback will run from Wednesday to Dec. 31, 2026, at the latest.