HSBC beats Q2 profit estimates, resumes $1 billion buyback

1. 1HSBC Holdings Plc (HSBC) announced Q2 results above estimates and resumed a buyback of up to $1 billion of its own shares.
2. 2Pretax profit of $10.1 billion for the quarter ended June exceeded the company consensus estimate of $9.5 billion, driven by $2.6 billion in notable items and revenue growth in its banking and wealth management segments.
3. 3The move resumes the buyback program that had been halted for roughly three quarters following the acquisition of Hang Seng Bank, with the stock recently trading near record highs.

Source Bloomberg +1 · View original ↗

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