XP Inc.A (XP) Misses Q2 Earnings Estimates

Core Insights - XP Inc.A reported quarterly earnings of $0.39 per share, missing the Zacks Consensus Estimate of$0.40 per share, representing an earnings surprise of -2.50% [1] - The company posted revenues of $809.53 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 3.10$717.1 million year-over-year [2] - XP Inc.A shares have declined approximately 30.8% year-to-date, contrasting with the S&P 500's gain of 12.1% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.42 on revenues of$818.36 million, and for the current fiscal year, it is $1.66 on revenues of$3.26 billion [7] - The estimate revisions trend for XP Inc.A is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Financial - Miscellaneous Services industry, to which XP Inc.A belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Stronghold Digital Mining, Inc., another company in the same industry, is expected to report a quarterly loss of $0.41 per share, reflecting a year-over-year change of +82.9% [9]