HSBC Reports Strong Earnings; To Buy Back $1bn of Shares

HSBC’s Profits Jump to $5.1bn

Banking major HSBC reported a surge in pre-tax quarterly profits to $5.1bn vs. $1.1bn last year, beating estimates of $3.7bn. For H1, pre-tax profits stood at $10.8bn, more than double the 1H number last year. Revenues fell 4.5% YoY to $25.55bn in H1. While its...
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