Banco Macro: Q1 Earnings Snapshot

Associated Press Finance
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BUENOS AIRES, Argentina (AP) — BUENOS AIRES, Argentina (AP) — Banco Macro SA (BMA) on Wednesday reported first-quarter earnings of $66.4 million.

The bank, based in Buenos Aires, Argentina, said it had earnings of $1.04 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The financial holding company posted revenue of $1.8 billion in the period. Its revenue net of interest expense was $913.7 million, also exceeding Street forecasts.

Banco Macro shares have increased 8.5% since the beginning of the year. The stock has climbed roughly 10% 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

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