SAO PAULO (AP) — SAO PAULO (AP) — Itau Unibanco Holding S.A. (ITUB) on Monday reported first-quarter earnings of $1.98 billion.

The Sao Paulo-based bank said it had earnings of 20 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 20 cents per share.

The financial holding company posted revenue of $16.15 billion in the period. Its revenue net of interest expense was $8.49 billion, surpassing Street forecasts.

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