HSBC announces $3 billion share buyback as third-quarter earnings beat expectations

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The bank reported third-quarter pre-tax profit of $8.5, a 10% rise compared to the $7.7 billion posted a year ago.

HSBC reported third-quarter pre-tax profit of $8.5, a 10% rise compared to the $7.7 billion posted a year ago.The bank also announced a further $3 billion share buyback, bringing the total amount announced this year to $9 billion.

on Tuesday reported third-quarter earnings that beat analysts' expectations as it embarks on a major restructuring that will see it splitting into four divisions. The bank announced a further $3 billion share buyback, bringing the total amount announced this year to $9 billion.

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