SAO PAULO, May 12 (Reuters) - B3 Bolsa Balcão Brasil SA, Brazil's largest exchange operator, posted a 56 percent drop in quarterly net income on Friday due to the costs of a merger creating the company out of rivals BM&FBovespa SA and Cetip SA Mercados Organizados.
Net profit fell from a year earlier to 209 million reais, far below a Thomson Reuters consensus of 504 million reais. Excluding one-time effects related to the merger, profit rose 10 percent to 524 million reais.
The newly formed exchange operator aims to invest 250 million-280 million reais and spend 1.05 billion-1.10 billion reais on operating expenses this year, the company said in its earnings release.
The company also forecast depreciation and amortization of 790 million -840 million reais and merger expenses of around 420 million reais this year - most of which fell in the first quarter.
Revenue grew 7 percent in the quarter from a year ago to 1.044 billion reais due to growth in all segments except for BM&F, which deals with financial and agricultural derivatives.
$1 = 3.1222 reais Reporting by Brad Haynes; Editing by Cynthia Osterman