HSBC third-quarter profit rises 10%, beats estimates

Reuters

Oct 29, 2024

HONG KONG/LONDON, Oct 29 (Reuters) - HSBC Holdings

reported a 10% rise in third-quarter profit on Tuesday, beating analyst estimates, as it benefited from slower-than-expected rate cuts while it is embarking on one of the largest overhauls in its history.

Europe's largest bank posted pretax profit of $8.5 billion for the July-to-September period versus $7.7 billion a year earlier.

The result compared with a $7.6 billion mean average of broker estimates compiled by HSBC.

The London-headquartered, Asia-focused bank also announced an additional share buyback of up to $3 billion, on top of a $6 billion buyback programme announced earlier this year.

(Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Himani Sarkar)

((Selena.Li@thomsonreuters.com; +852 39525868;))

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Editing by Himani Sarkar)</p><p>((Selena.Li@thomsonreuters.com; +852 39525868;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1155","symbol_name":"信息科技咨询与其它服务","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2479869412","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479869412","pubTimestamp":1730175034,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"HONG KONG/LONDON, Oct 29  - HSBC Holdings  reported a 10% rise in third-quarter profit on Tuesday, beating analyst estimates, as it benefited from slower-than-expected rate cuts while it is embarking on one of the largest overhauls in its history.   Europe's largest bank posted pretax profit of $8.5 billion for the July-to-September period versus $7.7 billion a year earlier.   The result compared with a $7.6 billion mean average of broker estimates compiled by HSBC.   The London-headquartered, Asia-focused bank also announced an additional share buyback of up to $3 billion, on top of a $6 billion buyback programme announced earlier this year. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1155":"信息科技咨询与其它服务","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","BK1586":"云计算","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","00861":"神州控股"},"translate_title":"汇丰银行第三季度利润增长10%，超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00861":0.9},"content_text":"HONG KONG/LONDON, Oct 29 (Reuters) - HSBC Holdings  reported a 10% rise in third-quarter profit on Tuesday, beating analyst estimates, as it benefited from slower-than-expected rate cuts while it is embarking on one of the largest overhauls in its history.   Europe's largest bank posted pretax profit of $8.5 billion for the July-to-September period versus $7.7 billion a year earlier.   The result compared with a $7.6 billion mean average of broker estimates compiled by HSBC.   The London-headquartered, Asia-focused bank also announced an additional share buyback of up to $3 billion, on top of a $6 billion buyback programme announced earlier this year. (Reporting by Selena Li in Hong Kong and Lawrence White in London; Editing by Himani Sarkar)((Selena.Li@thomsonreuters.com; +852 39525868;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}