HSBC shares rally on profit results after cost-cutting drive

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HSBC shares rally on profit results after cost-cutting drive

HSBC shares rallied Monday in a positive response to quarterly profit results after the British banking giant underwent a radical cost-cutting exercise. In the three months to September its adjusted pretax profit — which strips out one-off items and unfavourable currency movements — rose seven percent from a year ago to $5.59 billion, beating analysts' expectations. Reported pretax profit, however, plunged 86 percent from a year ago to $843 million.
HSBC said on November 7, 2016, its third quarter adjusted pretax profit rose 7% from a year ago to $5.59 billion, beating expectations

http://news.yahoo.com/hsbc-says-q3-pretax-profit-7-percent-044935543.html

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129 comments on “HSBC shares rally on profit results after cost-cutting drive

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