Business · 7 hours ago
HSBC Unveils $1bn Buyback as Profits Jump 32%
Danesman1, CC BY-SA 3.0, via Wikimedia Commons
London-headquartered HSBC has announced a share buyback of up to $1bn after reporting third-quarter pre-tax profit of $9.6bn, up 32% on a year earlier and broadly in line with analysts' forecasts. Revenue rose to $18.6bn, helped by higher interest and wealth income, while last year's figures were hit by large legal provisions. Despite the results, HSBC shares fell almost 3% in Hong Kong on Tuesday.
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