Finance4 sources
HSBC shares drop despite profit rise and $1b buyback
- HSBC reported a 32% rise in third-quarter pre-tax profit to $9.6 billion.
- Shares of HSBC dropped 5% despite the profit increase and a new share buyback of up to $1 billion.
- HSBC's third-quarter profit narrowly missed analyst estimates of $9.7 billion.
- The bank's wealth management business saw flat revenue, contributing to the share price decline.
- HSBC remains optimistic about the rest of the year despite the recent share price drop.
Articles (5)
Financial Times·
HSBC shares dip despite quarterly profits jumping amid cost cuts
HSBC quarterly profits surge 32% amid cost cutting
South China Morning Post·
HSBC shares drop 5% despite strong third-quarter profit, US$1b share buy-back
Bloomberg·
HSBC Quarterly Profit Growth Misses, Sets $1 Billion Buyback
Reuters·
HSBC quarterly profit jumps but shares slide after flat revenue for wealth business