Movement Alert｜Lloyds Banking Group PLC falls 4.91% in Regular Trading, Q3 profit missed expectations despite EPS and revenue beat

Market Focus00:14

On October 30, Lloyds Banking Group PLC fell 4.91% in Regular Trading, trading at $5.225 per share, with turnover of $54.597 million.

The move followed its latest quarterly results: EPS of $0.15 and revenue of $7.384 billion both topped market expectations, but quarterly net income was 5.07 billion pounds, below the 5.24 billion pounds expected by analysts, while impairment charges surged 78% year over year.

The company maintained its expectation for full-year underlying net interest income of more than 14.9 billion pounds, indicating underlying operating resilience. Even so, the weaker-than-expected profit conversion and higher credit costs appeared to weigh on sentiment, particularly as other large diversified banks including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo were broadly higher.

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