BNP Paribas Q2 net profit falls less than expected
PARIS, July 31
PARIS, July 31 (Reuters) - French bank BNP Paribas posted a smaller-than-expected 4.7 percent drop in second-quarter earnings on Wednesday, as its drive to cut costs and expand in relatively resilient markets like Germany got underway.
The euro zone's biggest bank by market value said net income fell to 1.76 billion euros ($2.33 billion) in the second quarter from 1.85 billion in the year-ago period. Revenue fell 1.8 percent to 9.92 billion euros.
Analysts had been expecting a bigger drop in profit, to 1.51 billion euros, and in revenue, to 9.84 billion, according to the average of forecasts compiled by Thomson Reuters. ($1 = 0.7547 euros) (Reporting by Lionel Laurent; Editing by James Regan)