Brazil's BTG Pactual beats estimates as revenue soars

martes 10 de mayo de 2016 19:49 GYT

SAO PAULO May 10 (Reuters) - Grupo BTG Pactual SA beat first-quarter profit estimates as income from trading and wealth management rose sharply and management at Latin America's largest independent investment bank reined in expenses and costly funding.

São Paulo-based BTG Pactual earned 1.071 billion real ($308 million) in net income last quarter, down 13 percent from the previous three months, according to a statement released late on Tuesday. The results were better than the average consensus estimate of 980 million reais complied by Thomson Reuters.

($1 = 3.4739 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Sandra Maler)