When it comes to banking businesses, there are many banks in this industry which are well known in global market and one of them is HSBC. HSBC is one of the largest banks in Europe has recently reported its fourth-quarter earnings which shows that it did not meet up to investors expectations. According to earnings reports HSBC managed to earn a profit of $19.89 billion which is 15.9 percent higher than previous year. Also, it successfully managed to make $53.78 billion of revenues in 2018 which is 4.5% higher as compared to last year.
HSBC’s profit and income might seem good only if we compare it to previous year; still, many investors did not get satisfied with this performance. According to investors company should’ve managed to earn a pre-tax profit of $21.26 billion for 2018, and the revenue should’ve been above $54.674 billion. One thing which every investor was hoping for is a proper dividend declaration by HSBC and officials of HSBC said it would pay a dividend of $0.51 per share. Some analysts were predicting that the bank is going to announce its decision of buying back its own shares, but that did not happen.
Even if some analysts are not entirely happy with HSBC’s performance bank’s CFO Ewen Stevenson said he is very pleased after seeing HSBC’s fourth-quarter earnings report. According to him even after facing such a hard period of Brexit and other situations bank has managed to earn a decent amount of revenue. HSBC’s performance declined in December and November month because of hard conditions in the global market. However, HSBC still can improve its business, and investors are hoping for some strong result in the upcoming quarter.
Katharine previously worked in a marketing company. But after revealing her interest in journalism and reporting She decided to become a contributor. Thus, writing business-related news is Katharine’s cup of tea. Additionally, She has an in-depth knowledge of the sector. she primarily focus on energy, finance, the world economy.