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Santander Mexico: 1Q Earnings Snapshot

MEXICO CITY (AP) _ Grupo Financiero Santander Mexico SAB de CV (BSMX) on Tuesday reported first-quarter net income of $275.5 million.

The Mexico City-based bank said it had earnings of 20 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The Mexican bank posted revenue of $1.82 billion in the period. Its revenue net of interest expense was $1.08 billion, which met Street forecasts.

Santander Mexico shares have risen 36% since the beginning of the year. The stock has climbed 15% in the last 12 months.


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