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Dow Jones Newswires: BBVA profit falls, but beats expectations

Net profit for the period was 1.23 billion euros ($1.37 billion) compared with EUR1.79 billion a year earlier. Read More...

Banco Bilbao Vizcaya Argentaria SA’s third-quarter net profit fell from a year earlier, when results included a capital gain on a stake sale, while revenue rose.

Net profit for the period was 1.23 billion euros ($1.37 billion) compared with EUR1.79 billion a year earlier, when the results where boosted by the sale of its Chilean franchise, the Spanish bank BBVA, -2.42% BBVA, -1.42%  said Thursday.

Excluding capital gains, net profit rose 6.1%, it said.

Gross income, the bank’s top line, rose to EUR6.14 billion from EUR5.73 billion.

The results compare with analysts’ expectations of a profit of EUR1.15 billion on gross income of EUR5.99 billion, according to a consensus forecast provided by the bank.

BBVA’s core Tier 1 ratio, a key measure of capital strength, was 11.6% in September from 11.5% it reported in June.

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