Why Shares of Banco BBVA Argentina Are Rising This Week
For the week, shares of Banco BBVA Argentina (NYSE: BBAR), a subsidiary of the Spanish bank Banco Bilbao Vizcaya Argentaria (NYSE: BBVA), traded more than 14% higher after market close on Thursday, according to data provided by S&P Global Market Intelligence. Banco BBVA Argentina reported earnings results for the second quarter of the year earlier this week.
Banco BBVA Argentina reported earnings per American depositary share of $0.57 on total revenue of close to $472 million; both numbers beat analyst estimates. Earnings jumped 226% from the first quarter and 35% year over year.
"With COVID-19 pandemic situation under control, Argentina has been able to continue with its economic recovery, although within a context of persistent great challenges with a sustained high inflation and a capped foreign exchange rate," chief financial officer Ines Lanusse said on the company's earnings call.
Source Fool.com
