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HSBC shares in Hong Kong up 2.7% after pre-tax profit in the first quarter beat expectations

April 27, 2021


HSBC shares jumped 2% after Europe’s largest lender by assets reported first-quarter pre-tax profit that beat estimates but reported revenue was down.

Hong Kong-listed HSBC shares traded up 0.44% prior to the earnings release.

The London-headquartered bank, which makes most of its revenue in Asia, said its reported profit before tax rose 79% from a year ago to $5.8 billion for the three months that ended March 31. It beat analyst expectations of $3.346 billion, according to estimates compiled by HSBC.

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