Santander Earnings Beat as Revenue Leap Offsets Higher Costs
- Spain’s biggest lender boosted by interest rate hiking cycle
- Santander says diverse markets help lay foundation for growth
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Banco Santander SA earnings beat expectations, as rising revenue helped the Spanish retail-banking giant offset the impact of increased costs and surging inflation.
Spain’s biggest lender posted net income of 2.35 billion euros ($2.4 billion) in the second quarter, exceeding the analyst consensus of 2.25 billion euros as net interest income jumped 7.9% from the first three months of the year.