Banco Itau: Q4 Earnings Snapshot

SAO PAULO (AP) — SAO PAULO (AP) — Itau Unibanco Holding S.A. (ITUB) on Tuesday reported fourth-quarter net income of $1.43 billion.

The bank, based in Sao Paulo, said it had earnings of 14 cents per share. Earnings, adjusted for non-recurring costs, were 15 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The financial holding company posted revenue of $15.3 billion in the period. Its revenue net of interest expense was $7.04 billion, beating Street forecasts.

For the year, the company reported profit of $5.75 billion, or 58 cents per share. Revenue was reported as $28.06 billion.


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