HSBC Reports First-Quarter Pre-Tax Profit Below Estimates Due to Credit Losses
HSBC reported a first-quarter pre-tax profit of $9.4 billion, missing estimates due to larger-than-expected credit losses and impairment charges. The bank's revenue increased by 6% year-on-year to $18.6 billion, exceeding expectations. The profit decline was slight compared to the previous year's $9.5 billion.
Tickers: $HSBC
Topics: earnings financial results HSBC profit revenue