HSBC to buy back US$3 billion of stock as third quarter beats expectation
==========
HSBC announced a US$3 billion stock buy-back following a 9% rise in net profit to US$6.13 billion for the quarter ending September 30, 2024, exceeding market forecasts. Total revenue increased by 5% to US$17.21 billion. CEO Georges Elhedery, who took over on September 2, 2024, highlighted strong growth in wealth and personal banking. The bank plans to restructure into four business lines starting January 1, 2025. HSBC's Asian pre-tax profit fell to US$5.1 billion, though it was up 25.2% year-on-year. The bank's shares rose 1.2% to HK$69.85 post-earnings report.
#Hsbc #StockBuyback #FinancialResults #Ceo #Profit #Revenue #Asia #Banking #Restructuring #Dividends
https://www.scmp.com/business/banking-finance/article/3284270/hsbc-spend-us3-billion-stock-buy-back-third-quarter-results-beat-forecast
South China Morning Post /
npub1x2…knuvq
2024-10-29 06:46:36
Author Public Key
npub1x2q0x7w5tqx0x3j9tdvkvqmetarpr8axhpjq7qw5xxrcysdwtrzssknuvqPublished at
2024-10-29 06:46:36Event JSON
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"content": "HSBC to buy back US$3 billion of stock as third quarter beats expectation\n==========\n\nHSBC announced a US$3 billion stock buy-back following a 9% rise in net profit to US$6.13 billion for the quarter ending September 30, 2024, exceeding market forecasts. Total revenue increased by 5% to US$17.21 billion. CEO Georges Elhedery, who took over on September 2, 2024, highlighted strong growth in wealth and personal banking. The bank plans to restructure into four business lines starting January 1, 2025. HSBC's Asian pre-tax profit fell to US$5.1 billion, though it was up 25.2% year-on-year. The bank's shares rose 1.2% to HK$69.85 post-earnings report.\n\n#Hsbc #StockBuyback #FinancialResults #Ceo #Profit #Revenue #Asia #Banking #Restructuring #Dividends\n\nhttps://www.scmp.com/business/banking-finance/article/3284270/hsbc-spend-us3-billion-stock-buy-back-third-quarter-results-beat-forecast",
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