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  "documentTitle": "XP Inc | Results Presentation Deck | 20 slides",
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  "authorName": "XP Inc.",
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  "presentationDate": "2021-08-01 00:00:00",
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  "notes": "The slide uses a waterfall-like logic to explain margin expansion via operating leverage and corporate structure efficiency.",
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      "text": "YoY Growth Across 2Q21 P&L",
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      "text": "Adjusted Net Income (in R$ mn)",
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      "text": "Adjusted Net Income grew 83% vs. 2Q20, explained by (1) strong growth in Retail Revenue, (2) operating leverage in SG&A and (3) a lower effective tax rate.",
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