Santander Reports Drop In Q2 Net Profit; Shares Down In Pre-Market

Banco Santander SA STD reported a decline in its second-quarter net profit. Banco Santander's quarterly net profit dropped to €1.39 billion ($2 billion), or 0.23 euro per share, from €2.23 billion, or 0.26 euro per share, in the year-earlier period. Its net interest income increased to €7.64 billion, from €7.38 billion. However, analysts were expecting a net profit of €2.07 billion. Banco Santander shares dropped 4.22% to $10.45 in pre-market trading.