HSBC Holdings PLC (NYSE: HBC) reported third-quarter 2012 earnings this morning in London. The banking and financial services firm posted adjusted earnings per share (EPS) of $0.13 on revenues of $48.98 billion. In the same period a year ago, the company reported adjusted EPS of $0.28 on revenues of $44.76 billion. Thomson Reuters had no quarterly estimates available for the British-based bank, but for the fiscal year ending in December the estimates call for EPS of $5.54 on revenue of $70.36 billion.
On what it calls a profit before tax basis, the bank reported earnings of $16.2 billion compared with $18.63 billion in the third quarter a year ago. On an “underlying” (adjusted) basis, profit rose $2.8 billion to $5 billion in the quarter.
The company’s CEO said:
The increase in underlying profit was driven by revenue growth in Global Banking and Markets, mainly in Rates and Credit…
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