BBVA Posts Upbeat Q1 Net Profit

Spain's Banco Bilbao Vizcaya Argentaria SA BBVA reported a drop in its first-quarter net profit. BBVA's quarterly profit fell to 1.01 billion euros ($1.33 billion), versus a year-ago profit of €1.15 billion. However, analysts were expecting a net profit of €912 million. Its net interest income climbed to €3.6 billion from €3.18 billion. BBVA shares closed at $6.74 yesterday.