UPDATE 1-BME net profit down 39.5 pct, misses forecasts

* Net profit 33.5 mln euros, below 37.4 mln forecast

* Revenues down 27 pct on weak trading volumes

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MADRID, April 29 (Reuters) - Spanish stock market operator BME (BME.MC) reported a 39.5 percent decline in net profit to 33.5 million euros ($43.6 million) on Wednesday, missing analysts' forecasts.

Analysts polled by Reuters were forecasting net profit of 37.4 million euros.

Revenues fell 27 percent to 72.7 million euros, hit by a heavy decline in revenues from its equities business as global financial uncertainty hit trading volumes and prices.

The number of trades executed, including shares, exchange-traded funds and warrants, totalled 7.5 million during the quarter, down 27.1 percent from a year ago.

Earnings before interest, tax, depreciation and amortisation dropped 36.1 percent to 48.3 million, while costs grew 1.7 percent. (Reporting by Tracy Rucinski, editing by Will Waterman) ($1=.7683 Euro)