To support its valuation, HSBC initiated a share buyback program of up to $1B. The bank also provided a financial outlook for its core operations, stating its forecast for banking net interest income in 2026 is at least $46B.
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HSBC Shares Sink 6% After Third-Quarter Revenue Misses Analyst Estimates
Earnings2 hours ago
Investors sold off holdings in the global lender after its third-quarter revenue reached $18.6B, falling short of the $18.93B projected by analysts. The bank's share price dropped 6% on Monday as the miss in revenue was coupled with slowing growth in its wealth management business, which overshadowed a 32% increase in quarterly pretax profit to $9.63B.
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