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XP Sees Prelim. Q2 Sales R$1.85B-R$1.98B

  SÃO PAULO, Brazil, June 29, 2020 (GLOBE NEWSWIRE) -- XP Inc. (NASDAQ:XP), a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in

Benzinga · -

 

SÃO PAULO, Brazil, June 29, 2020 (GLOBE NEWSWIRE) -- XP Inc. (NASDAQ:XP), a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil, announced today the preliminary estimated financial results for the second quarter of 2020. The second quarter of 2020 has not ended yet and therefore our financial results for the three months ending June 30, 2020 are not yet finalized. The following information reflects our preliminary estimated results for this period:

Gross Revenue (in R$ million)
Gross revenue for the three months ending June 30, 2020 is expected to be between R$1,850 million and R$1,980 million, compared with R$1,236 million for the same period of 2019, representing a period over period expected growth of between 50% and 60%.

Adjusted Net Margin ¹, ²
Adjusted Net Margin for the three months ending June 30, 2020 is expected to be between 24% and 28%, compared to 20% for the same period of 2019. Adjusted Net Margin is calculated by taking Adjusted Net Income divided by net revenue.

Adjusted Net Income (in R$ million) ¹, ²
Adjusted Net Income for the three months ending June 30, 2020 is expected to be between R$420 million and R$520 million compared to R$228 million for the same period of 2019.   

Net Inflow (in R$ billion)
Net inflow for June 2020 is expected to be between R$10.0 billion and R$12.0 billion compared to R$8.3 billion in May 2020 and R$6.9 billion in April 2020.