Banco Santander Second Quarter 2024 Earnings: EPS Beats Expectations

Banco Santander (BME:SAN) Second Quarter 2024 Results

Key Financial Results

• Revenue: €27.1b (up 139% from 2Q 2023).
• Net income: €3.21b (up 31% from 2Q 2023).
• Profit margin: 12% (down from 22% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: €0.20 (up from €0.15 in 2Q 2023).

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

Banco Santander EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.8%.

Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Banks industry in Spain.

Performance of the Spanish Banks industry.

The company's shares are up 4.8% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Banco Santander that you should be aware of.

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