Banco Itau: 3Q Earnings Snapshot
SAO PAULO (AP) _ Itau Unibanco Holding S.A. (ITUB) on Monday reported third-quarter net income of $1.3 billion.
The bank, based in Sao Paulo, said it had earnings of 13 cents per share. Earnings, adjusted for severance costs and amortization costs, were 18 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The financial holding company posted revenue of $12.65 billion in the period. Its revenue net of interest expense was $6.88 billion, also missing Street forecasts.
Banco Itau shares have dropped slightly more than 1% since the beginning of the year. The stock has dropped 1% in the last 12 months.