XP released this Thursday (16) net income of R$ 783 million for the fourth quarter, a drop of 21% over the performance obtained a year earlier, according to a balance released to the market.
The investment platform found a return on equity of 18.1% in the last three months of last year, compared to 24.4% in the third quarter.
The company’s shares in the United States showed a drop of 3.8% in the aftermarket shortly after the publication of the balance sheet.
XP, which last November cited a “more challenging than expected” macroeconomic scenario, had net inflows of BRL 31 billion in the last quarter of last year, 36% below the result of a year earlier.
The company ended last year with total assets of BRL 946 billion, an expansion of 16% compared to 2021. Active customers totaled 3.88 million, compared to 3.42 million at the end of the previous year.
XP’s general and administrative expenses were practically stable in the quarter from October to December compared to a year earlier and the company’s chief executive, Thiago Maffra, said that the group promoted cuts of 5.5% in the number of employees in January this year compared to December, to 6,549.
XP projected total expenses, excluding incentives, between BRL 5 billion and BRL 5.5 billion this year against BRL 5.6 billion in 2022. The expectation for net profit in 2023 is between BRL 3.8 billion and BRL $4.4 billion, advancing between 6% and 23% over last year.
The company also stated that it intends to continue returning capital to shareholders, in the form of buybacks or dividends.
(By Alberto Alerigi Jr.)
Source: CNN Brasil
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