Never miss an issue of Master Investor Magazine – sign-up now for free!
Shares in financial giant HSBC (LON:HSBA) rose by 4.84% to 634.40p (as of 10:50 GMT) after the company’s reported profits before tax for the first nine months of 2018 climbed by 12% to $16.6 billion. Revenues were up by 5%, driven by deposit income with very strong results in Asian markets.
Group chief executive John Flint said: “These are encouraging results that demonstrate the revenue potential of HSBC. We are doing what we said we would – delivering growth from areas of strength, and investing in the business while keeping a strong grip on costs. We remain committed to growing profits, generating value for shareholders and improving the service we offer our customers around the world.“