BTG Pactual misses profit estimates as revenue declines

martes 9 de agosto de 2016 21:07 GYT

SAO PAULO Aug 9 (Reuters) - Grupo BTG Pactual SA missed second-quarter profit estimates on Tuesday as revenue tumbled amid efforts by Latin America's largest independent investment bank to downsize.

Net income totaled about 940 million reais ($299 million) last quarter, below the average consensus estimate of 1.1 billion reais compiled by Thomson Reuters. Profit slumped 12 percent from the prior three months, falling below the 1 billion-real threshold for the first time in five quarters.

($1 = 3.1455 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Sandra Maler)