ITUB - Itaú Unibanco ADSs gain after posting Q3 revenue results growth

Itaú Unibanco Holding ( NYSE: ITUB ) ADSs jumped 5.9% in Thursday after-hours trading after the Brazilian bank's Q3 recurring managerial result increased 5.2% from Q2 and 19% from the year-ago quarter. The company kept its 2022 guidance unchanged.

Q3 operating revenue of R$36.6B rose 3.7% Q/Q and 16% Y/Y.

Commissions and fees of R$10.4B slipped 0.8% from Q2 and rose 3.4% from the year-ago quarter.

Q3 recurring managerial result of R$8.08B increased from R$7.68B in the prior quarter and from R$6.78B in the year-ago quarter.

Provision for loan losses of R$8.28M increased from R$7.81M in Q2 and from R$5.53M in Q3 2021.

Noninterest expense of R$13.9B increased 4.7% Q/Q and 8.7% Y/Y.

The bank's credit portfolio rose 2.5% Q/Q to R$1.11T.

The company reaffirmed its 2022 guidance: That includes consolidated total credit portfolio growth of 15.5%-17.5%; financial margin with clients growth of 25.0%-27.0%; financial margin with the market of R$1.0B-R$3.0B; cost of credit of R$28.0B-R$31.0B.

See past periods' financial metrics here.

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