(Adds results, debentures issue)
SAO PAULO, Nov 11 (Reuters) - BM&FBovespa SA, Brazil's sole listed bourse operator, missed third-quarter profit estimates by a wide margin, with earnings falling 85 percent from a year earlier, the company reported on Friday in a securities filing.
Net income at the São Paulo-based company came in at 293.5 million reais ($86.6 million) last quarter, compared with profit of 2.013 billion reais a year earlier. The result was lower than the consensus estimate of 468.3 million reais for the quarter.
BM&FBovespa said the drop in earnings was affected by extraordinary items: the partial divestment of CME Group shares in the third quarter of last year and expenses related to provisions this year.
Net revenue totaled 548.3 million reais, just under the consensus estimate of 552.7 million reais.
Last quarter, revenue at the Bovespa equities segment rose 8 percent from the prior year, while revenues for the BM&F derivatives division was down 21.6 percent.
The company said it obtained board approval to issue 3 billion reais in non-convertible debentures, and the funds will be used to raise capital in the merger with clearinghouse Cetip SA Mercados Organizados.
Management plans to discuss results at an event early on Monday. ($1 = 3.3902 reais) (Reporting by Guillermo Parra-Bernal; Editing by Meredith Mazzilli and Cynthia Osterman)