HSBC Adds $1 Billion Buyback as Profits Jump 32% — SkimNews
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- HSBC reported third-quarter pretax profit in line with estimates, helped by a boost to net interest income, while quarterly profits surged 32% on higher rates.
- HSBC announced a $1 billion buyback after profit growth missed, with the bank's shares indicated at EUR 16.13 in pre-market trading.
Why it matters: HSBC shareholders are getting a $1 billion buyback, but the quarter's quality is mixed: net interest income and higher rates drove a 32% profit surge, while pretax profit landed only in line with estimates and profit growth registered as a miss, with shares indicated at EUR 16.13 pre-market.
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