Movement Alert｜HSBC HOLDINGS Intraday Decline 3.09% in Regular Trading, Q3 Revenue Missed Expectations Despite Profit Growth and New Buyback Plan

Market Focus10-27 13:01

On October 27, HSBC HOLDINGS fell 3.09% in regular trading, with the shares at 139.9 and turnover of HK$949 million.

The key catalyst was the company’s third-quarter results, which showed higher profit year over year but revenue and capital ratios slightly below market expectations, even as it announced a further share buyback of up to $1 billion and a third interim dividend of $0.10 per share.

For the third quarter, revenue was $18.6 billion, up about 5% year over year, versus market expectations of about $18.93 billion. Pretax profit was $9.6 billion, up 32% year over year, compared with expectations near $9.7 billion, while CET1 ratio was 13.9% versus an expected 14.1%. Adjusted profit was about $10.02 billion, up 10%, net interest income rose to $9.31 billion from $8.78 billion, and the cost efficiency ratio improved to 47.4% from 56.6% as expenses fell 12%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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