XP Inc.'s stock tumbled 6% in pre-market trading on Tuesday, extending losses from the previous after-hours session following the release of disappointing first-quarter financial results.

The Brazilian financial services company reported quarterly earnings that fell short of analyst expectations, with both earnings per share and revenue missing consensus estimates. In local currency terms, adjusted net income and net revenue also came in below forecasts, contributing to investor concerns about the company's performance.

Alongside the earnings release, XP announced a planned CFO transition with Gustavo Alejo Viviani appointed to the role effective August 3, 2026. The company also declared a cash dividend and authorized a new share repurchase program of up to 1 billion Brazilian reais, though these positive announcements were overshadowed by the earnings miss.