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.
