Trending: HSBC Posts Mixed 3Q Results With Better Buyback, Worse Costs
30 Outubro 2023 - 7:44AM
Dow Jones News
1011 GMT - HSBC is among the most mentioned companies across
news items over the past six hours, according to Factiva data. The
banking giant reported third-quarter results and announced a $3
billion share buyback program. "HSBC has brought down the curtain
on a largely forgettable banks' reporting season in largely
positive fashion, still reaping the benefits of size but missing
estimates on a couple of metrics," Interactive Investor's Richard
Hunter says. Despite coming short of expectations, the bank posted
a 40% on-year revenue jump to $16.2 billion with pretax profit more
than doubling to $7.7 billion on higher interest rates. Analysts
point to the lender's heavier cost guidance for 2023 as a source of
concern, particularly given costs and impairments led to the profit
miss. "Revenue roll-forward and payout strength [are] the key areas
of focus, we think," UBS writes. Shares in London are broadly flat
in morning trade at around 601 pence while the FTSE 100 index gains
0.8%. Dow Jones & Co. owns Factiva. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
October 30, 2023 06:29 ET (10:29 GMT)
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