HSBC reports flat first-half profit, beats estimates
HONG KONG (Reuters) – HSBC Holdings (NYSE:) reported a slight drop of 0.4% in first-half profit on Wednesday, beating analyst estimates, as its businesses benefited from higher interest rates worldwide while robust growth in its wealth business boosted revenue.
Europe’s largest bank posted pretax profit of $21.6 billion for the first six months this year versus $21.7 billion a year earlier.
The result compared with the $20.5 billion average of broker estimates compiled by HSBC.
