HSBC Plc (HSBC) posted stronger-than-expected first quarter earnings Thursday but indicted it had no plans to either buyback shares or increase its dividend despite its strong capital base.
HSBC said pre-tax profits for the first three months of the year came in at $4.96 billion, a 19% decline from the year-ago period but topping a bank-provided consensus of $4.3 billion. Revenues at the bank, Europe’s biggest, fell 13% to $13 billion, HSBC said, firmly ahead of the FactSet consensus of $12.5 billion.
