UPDATE 1-Argentina's Banco Macro Q3 net income $87.7 mln

Wed Nov 7, 2012 5:36pm EST

Nov 7 (Reuters) - Argentina's Banco Macro on Wednesday reported third-quarter net income of 411.9 million pesos ($87.7 million), 31 percent higher than in the same 2011 period and far above market expectations.

The median forecast in a Reuters survey of four analysts was for net income of 335 million pesos in the quarter, with estimates ranging from 330 million to 342 million pesos.