Brazil's XP posts 29% increase in first-quarter net profit

SAO PAULO - Brazil ian brokerage XP said on Tuesday its net profit jumped 29% in the first quarter from a year earlier, with net revenues almost in line with market expectations, boosted by fixed income.

Revenues of XP's main retail business, through which it intermediates investments for individuals, grew by 22% in gross terms, with fixed-income revenue more than doubling year-on-year.The country's central bank has cut the Selic, Brazil's benchmark interest rate, by a total of 325 basis points since last August. Even so, equities volume has not shown yet a material recovery from the levels it reached before the easing cycle.

Interest rates futures priced on Tuesday a 67% likelihood of a pause in the easing cycle in June in Brazil, after the central bank reduced the pace of rate cuts earlier this month. Seeking a reliable income stream for your TFSA? Consider this sustainable high-yielding dividend payer. The post Why I Can’t Stop Buying Shares of This Magnificent High-Yield Dividend Stock in My TFSA appeared first on The Motley Fool Canada.Trump Media and Technology Group, the company affiliated with former U.S. president Donald Trump that operates Truth Social, reported $770,500 in revenue for the first quarter of 2024 and a net loss of $327.6 million. Shares in Sarasota, Fla.

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Source: News Formal (newsformal.com)

Gross Revenues Brazil XP Net Profit Net Revenues

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