Banco do Brasil Third Quarter 2024 Earnings: Revenues Miss Expectations

Banco do Brasil (BVMF:BBAS3) Third Quarter 2024 Results

Key Financial Results

• Revenue: R$24.9b (down 14% from 3Q 2023).
• Net income: R$8.92b (up 11% from 3Q 2023).
• Profit margin: 36% (up from 28% in 3Q 2023). The increase in margin was driven by lower expenses.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Banco do Brasil Revenues Disappoint

Revenue missed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Banks industry in Brazil.

Performance of the Brazilian Banks industry.

The company's shares are down 3.1% from a week ago.

Valuation

Our analysis of these results suggests Banco do Brasil may be undervalued based on 6 important criteria we look at. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

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