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BBVA Q4'17 profit drops YOY on Telefónica losses

Banco Bilbao Vizcaya Argentaria SA booked fourth-quarter 2017 net attributable profit of €70 million, a sharp fall from €678 million in the year-ago period.

EPS for the quarter dropped to zero cents from 9 cents a year earlier. The S&P Capital IQ consensus normalized EPS estimate for the quarter was 15 cents.

Excluding the impact of losses related to its stake in Spanish telecommunications firm Telefónica, attributable profit for the quarter reached €1.19 billion.

For full year 2017, attributable profit was €3.52 billion, a year-over-year rise from €3.48 billion.

More details to follow.