XP's profits plummet, alarming the market.
The brokerage firm's fourth-quarter profit was R$783 million, a 21% decrease compared to the previous year.
247 - XP Investimentos announced this Thursday (16) a 21% drop in profit in the fourth quarter of 2022, disappointing even the most skeptical in the market.
Fourth-quarter profit was R$783 million. Analyst consensus was for a profit of R$1 billion. Net revenue came in at R$3,2 billion, 12% below projections.
Regarding the year 2022, the financial institution announced a net profit of R$ 3,580 billion, practically stable compared to the R$ 3,592 billion recorded a year earlier.
Shares of brokerage firm Guilherme Benchimol plummeted nearly 10% in New York on Thursday night following the results, according to... Brazil Journal.