Market Overview

HSBC Posts Weak Earnings

HSBC Holdings PLC (NYSE: HSBC) reported a weak profit for 2013.

HSBC's full-year 2013 pretax profit climbed 9% to $22.56 billion, from a year-ago profit of $20.65 billion. However, analysts were expecting a profit of $24.6 billion.

In the fourth quarter, HSBC's pretax profit dropped to $3.96 billion versus a year-ago profit of $4.43 billion.

HSBC shares fell 3.55% to $52.39 in pre-market trading.

Posted-In: profitEarnings News

 

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