HSBC Q1 Profit Hits 9.4 Billion Dollars Missing Estimates
HSBC reported a first-quarter profit of 9.4 billion dollars, missing analyst estimates. The results were hit by higher credit charges and Middle East provisions.
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HSBC HOLDINGS PLC reported a $9.4B pretax profit for the first quarter, missing broker estimates of $9.59B. The result is nearly flat compared to the $9.5B profit recorded during the same period last year. Rising credit provisions in the United Kingdom and geopolitical risks are weighing on the bank's bottom line.
