XP(US:XP)2023-08-14 23:59Financial Performance - XP Inc achieved R$ 10 trillion in Client Assets, a 21% year-over-year increase[4] - The company's Net Income reached R$ 977 million, up 7% year-over-year[6] - Earning Before Taxes (EBT) was R$ 968 million, a 12% increase year-over-year[5] - Gross Revenue totaled R$ 37 billion, a 3% year-over-year increase[7] - Diluted EPS increased by 24% QoQ to R$ 183[7] - Return on Average Equity (ROAE) increased by 334 bps QoQ to 220%[7] Operating Trends - The company's Active Clients reached 40 million, with 47000 net additions[11] - The number of IFAs (Independent Financial Advisors) increased by 1134 net additions to 14100[11] Revenue Breakdown - New Verticals contributed 11% of Total Revenue in 2Q23[14] - Fixed Income revenue experienced a 74% QoQ growth[21] - Cards Revenue grew by 100% year-over-year[24] Expenses and Efficiency - Sales, General & Administrative Expenses (SG&A) for 1H23 totaled R$ 23 billion[29] - The company is improving Efficiency & Compensation Ratios[32]