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Banco do Brasil Posts Upbeat Q2 Profit

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Banco do Brasil (OTC: BDORY) reported a drop in its second-quarter net income.

The bank's quarterly net income fell to 3.008 billion reais ($1.49 billion), from 3.357 billion reais, in the year-ago period. However, analysts were expecting a net income of 2.86 billion reais.

Excluding one-time items, the bank's profit came in at 2.986 billion reais. However, analysts were expecting recurring profit of 2.78 billion reais.

Banco do Brasil shares fell 3.36% to close at $11.79 yesterday.

Posted-In: profitEarnings News


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