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Oct. 31, 2019, 2:41 a.m. EDT

BBVA profit fals, but beats expectations

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By Pietro Lombardi


Bloomberg

Banco Bilbao Vizcaya Argentaria SA’s third-quarter net profit fell from a year earlier, when results included a capital gain on a stake sale, while revenue rose.

Net profit for the period was 1.23 billion euros ($1.37 billion) compared with EUR1.79 billion a year earlier, when the results where boosted by the sale of its Chilean franchise, the Spanish bank /zigman2/quotes/204078760/composite BBVA +0.19%   /zigman2/quotes/209653399/delayed ES:BBVA +0.40%  said Thursday.

Excluding capital gains, net profit rose 6.1%, it said.

Gross income, the bank’s top line, rose to EUR6.14 billion from EUR5.73 billion.

The results compare with analysts’ expectations of a profit of EUR1.15 billion on gross income of EUR5.99 billion, according to a consensus forecast provided by the bank.

BBVA’s core Tier 1 ratio, a key measure of capital strength, was 11.6% in September from 11.5% it reported in June.

/zigman2/quotes/204078760/composite
US : U.S.: NYSE
$ 5.33
+0.01 +0.19%
Volume: 2.42M
Jan. 17, 2020 6:30p
P/E Ratio
9.07
Dividend Yield
4.41%
Market Cap
$35.45 billion
Rev. per Employee
$213,392
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/zigman2/quotes/209653399/delayed
ES : Spain: Madrid
4.81
+0.02 +0.40%
Volume: 28.12M
Jan. 17, 2020 5:38p
P/E Ratio
6.84
Dividend Yield
4.38%
Market Cap
€31.97 billion
Rev. per Employee
€180,879
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