HSBC Holdings plc announced on Monday that its revenue surged by 40% over the year to $16.2 billion in the third fiscal quarter of 2023.
The bank's profit before tax went up by $4.5 billion to $7.7 billion year-on-year, as its profit after tax increased by $3.6 billion to $6.3 billion. The company's diluted EPS landed at $0.29, in contrast with last year's $0.10. HSBC also said today that it intends to initiate a share buy-back of up to $3 billion.
"We have had three consecutive quarters of strong financial performance and are on track to achieve our mid-teens return on tangible equity target for 2023. There was good broad-based growth across all businesses and geographies, supported by the interest rate environment," HSBC CEO Noel Quinn noted.
