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Santander Q3 Net Profit Drops 94%

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Banco Santander SA (NYSE: SAN) reported a 94% drop in its third-quarter profit.

Santander's quarterly net profit fell to EUR100 million ($129.7 million), from EUR1.8 billion, in the year-ago period. However, analysts were expecting a profit of EUR1.23 billion.

Santander's net profit in the nine-month period declined 66% to EUR1.8 billion.

Santander shares closed at $7.50 yesterday.

Posted-In: profitEarnings News


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