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Banco Macro: 3Q Earnings Snapshot

BUENOS AIRES, Argentina (AP) _ Banco Macro SA (BMA) on Friday reported third-quarter profit of $266.8 million.

The Buenos Aires, Argentina-based bank said it had earnings of $3.58 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.

The financial holding company posted revenue of $805.5 million in the period. Its revenue net of interest expense was $490.7 million, also topping Street forecasts.

Banco Macro shares have decreased 47% since the beginning of the year. In the final minutes of trading on Friday, shares hit $23.45, a fall of 47% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMA at https://www.zacks.com/ap/BMA