Itau Unibanco Q3 Earnings & Revenues Increase Y/Y, Expenses Rise

Zacks11-06

Itau Unibanco Holding S.A. ITUB reported recurring managerial results of R$10.7 billion ($1.93 billion) for the third quarter of 2024, which increased 18.1% year over year.Find the latest earnings ...

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ITUB reported recurring managerial results of R$10.7 billion ($1.93 billion) for the third quarter of 2024, which increased 18.1% year over year.Find the latest earnings ...</p>\n\n<a href=\"https://finance.yahoo.com/news/itau-unibanco-q3-earnings-revenues-160700983.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Itau Unibanco Q3 Earnings & Revenues Increase Y/Y, Expenses Rise</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nItau Unibanco Q3 Earnings & Revenues Increase Y/Y, Expenses Rise\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-06 00:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/itau-unibanco-q3-earnings-revenues-160700983.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Itau Unibanco Holding S.A. ITUB reported recurring managerial results of R$10.7 billion ($1.93 billion) for the third quarter of 2024, which increased 18.1% year over year.Find the latest earnings ...</p>\n\n<a href=\"https://finance.yahoo.com/news/itau-unibanco-q3-earnings-revenues-160700983.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ITUB","symbol_name":"艾涛巴西联合银行","start_time":0,"source_url":"https://finance.yahoo.com/news/itau-unibanco-q3-earnings-revenues-160700983.html","article_id":"2481369956","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/FCY4aIxQjiEDUYsE8dPlmg--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/b417458c1410ad372e2ebb1706a48d63"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481369956","pubTimestamp":1730822820,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Itau Unibanco Holding S.A. ITUB reported recurring managerial results of R$10.7 billion  for the third quarter of 2024, which increased 18.1% year over year.Find the latest earnings estimates and surprises on the ZacksEarnings Calendar.Higher revenues and an increase in managerial financial margin supported the results. Rising total deposits and assets reflected a strong balance sheet position. However, an increase in non-interest expenses acted as a spoilsport.Operating revenues were R$42.7 billion  in the reported quarter, up 8% year over year.The managerial financial margin increased 6.4% year over year to R$28.5 billion . Also, commissions and fees rose 5% to R$11.2 billion .Non-interest expenses totaled R$15.9 billion , up 8.2% year over year.In the third quarter, the efficiency ratio was 40.2%, down from 40% reported in the year-earlier quarter. A decrease in this ratio indicates increased profitability.Itau Unibanco Holding S.A. Price, Consensus and EPS Surprise. Itau Unibanco H","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ITUB":"艾涛巴西联合银行","UBS":"瑞银","DB":"德意志银行"},"translate_title":"Itau Unibanco第三季度盈利和收入同比增长，费用上升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DB":0.9,"ITUB":0.9,"UBS":0.9},"content_text":"Itau Unibanco Holding S.A. ITUB reported recurring managerial results of R$10.7 billion ($1.93 billion) for the third quarter of 2024, which increased 18.1% year over year.Find the latest earnings estimates and surprises on the Zacks Earnings Calendar.Higher revenues and an increase in managerial financial margin supported the results. Rising total deposits and assets reflected a strong balance sheet position. However, an increase in non-interest expenses acted as a spoilsport.\nITUB’s Revenues & Expenses Increase\nOperating revenues were R$42.7 billion ($7.7 billion) in the reported quarter, up 8% year over year.The managerial financial margin increased 6.4% year over year to R$28.5 billion ($5.13 billion). Also, commissions and fees rose 5% to R$11.2 billion ($2 billion).Non-interest expenses totaled R$15.9 billion ($2.9 billion), up 8.2% year over year.In the third quarter, the efficiency ratio was 40.2%, down from 40% reported in the year-earlier quarter. A decrease in this ratio indicates increased profitability.\nITUB’s Credit Quality Improves\nThe cost of credit charges declined 11% on a year-over-year basis to R$8.2 billion ($1.5 billion).The non-performing loan ratio (loan transactions overdue more than 90 days) was 2.6% in the third quarter, down from the prior-year quarter’s 3%.\nITUB’s Balance Sheet Position Strong\nAs of Sept. 30, 2024, Itau Unibanco’s total assets rose 2.6% to R$3 trillion ($551.2 billion), up 2.6% from the last reported quarter. Liabilities, including deposits, debentures, securities, borrowings and on-lending, totaled R$1.44 trillion ($264.6 billion), which increased marginally on a sequential basis.As of the same date, ITUB’s credit portfolio, including private securities and financial guarantees provided, rose 1.9% to R$1.28 trillion ($235.2 billion) from the prior quarter.\nITUB’s Capital & Profitability Ratios Rise\nAs of Sept. 30, 2024, the Common Equity Tier 1 ratio was 13.7%, up from 13.1% as of Sept. 30, 2023.Annualized recurring managerial return on average equity was 22.7%, up from 21.1% in the year-earlier quarter.\nOur View on ITUB\nItau Unibanco’s third-quarter results were driven by a rise in managerial financial margin. The declining efficiency ratio indicates a rise in profitability, which is a positive factor. Growth in commissions and fees, results from insurance operations and efforts to have a healthy credit portfolio are positives.\n\nItau Unibanco Holding S.A. Price, Consensus and EPS Surprise\n\nItau Unibanco Holding S.A. price-consensus-eps-surprise-chart | Itau Unibanco Holding S.A. Quote\n\nItau Unibanco currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nPerformance of Other Foreign Banks\nUBS Group AG UBS reported a third-quarter 2024 net profit attributable to shareholders of $1.42 billion against a net loss of 715 million in the prior-year quarter. UBS’ results were driven by the strong performances of the Global Wealth Management, Asset Management and Investment Bank divisions. The decrease in operating expenses was another positive. However, an increase in credit loss expenses was a headwind.Deutsche Bank DB reported third-quarter 2024 earnings attributable to its shareholders of €1.5 billion ($1.6 billion), up 41.7% year over year.Results were driven by solid growth in Investment Bank revenues and the partial release of Postbank-related litigation provisions. However, DB has increased its provision of credit loss forecast for 2024.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nDeutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis Report\nUBS Group AG (UBS) : Free Stock Analysis Report\nItau Unibanco Holding S.A. (ITUB) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481369956"}