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.
Here are HSBC's results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:HSBC's pre-tax profit represented a 10% rise from the $7.71 billion posted a year ago. Profit after tax came in at $6.7 billion, $500 million higher than the third quarter of 2023.to $17 billion, compared to the $16.
Net interest margin, a measure of lending profitability, decreased by 24 basis points to 1.46% compared with 1.70% a year ago. That's also lower than the average broker estimates of 1.56%.