The earnings call reflects a strong quarter with significant profit growth and revenue increases, particularly in the wealth segment. However, there were challenges with a decline in NII due to legacy securities and increased ECL charges. The strategic reorganization is expected to drive future efficiencies and growth.

Company Guidance

During HSBC's Q3 2024 earnings call, the company provided detailed guidance on several financial metrics, affirming its strategy and projected performance. The bank reported a profit before tax of $8.5 billion, marking an 11% increase compared to the same quarter last year on a constant currency basis. HSBC also announced a further $4.8 billion in distributions, including a third interim dividend of $0.10 per share and a new share buyback of up to $3 billion. The annualized return on tangible equity for the first nine months was reported at 19.3%, or 16.7% excluding notable items. Revenue reached $17 billion, a $1.1 billion increase from the previous year. The bank maintained its 2024 banking net interest income (NII) guidance at around $43 billion, albeit suggesting a focus on $42 billion excluding Argentina's contributions. HSBC's CET1 ratio was 15.2%, up by 20 basis points from the previous quarter. Additionally, the bank is targeting a mid-teens return on tangible equity for both 2024 and 2025, excluding notable items, while ensuring cost growth remains around 5% for 2024.

Strong Profit Growth

Profit before tax of $8.5 billion was up $0.9 billion or 11% compared to the third quarter of last year on a constant currency basis.

Revenue Increase

Revenue of $17 billion was up $1.1 billion on last year's third quarter, driven by a $1.6 billion increase in fee and other income.

Significant Distributions

A further $4.8 billion of distributions were announced, consisting of a third interim dividend of $0.10 per share and a new share buyback of up to $3 billion.

Wealth Segment Growth

Wealth was up 32% on the third quarter last year, marking the third consecutive quarter of double-digit growth in wealth.

Capital Strength

CET1 ratio was 15.2%, up 20 basis points from the second quarter, supported by strong organic capital generation.

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HSBC Holdings (HSBC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HSBC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 25, 2025	2024 (Q4)	1.15 / -	1.2	―	―	―
Oct 29, 2024	2024 (Q3)	1.50 / 1.70	1.45	17.24% (+0.25)
Jul 31, 2024	2024 (Q2)	1.61 / 1.75	1.725	1.45% (+0.02)
Apr 30, 2024	2024 (Q1)	1.61 / 2.70	2.6	3.85% (+0.10)
Feb 21, 2024	2023 (Q4)	1.37 / 1.20	1.15	4.35% (+0.05)
Oct 30, 2023	2023 (Q3)	1.52 / 1.45	0.5	190.00% (+0.95)
Aug 01, 2023	2023 (Q2)	1.59 / 1.73	1.4	23.21% (+0.33)
May 02, 2023	2023 (Q1)	1.25 / 2.60	0.7	271.43% (+1.90)
Feb 21, 2023	2022 (Q4)	1.06 / 1.15	0.7	64.29% (+0.45)
Oct 25, 2022	2022 (Q3)	1.02 / 0.50	0.85	-41.18% (-0.35)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HSBC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$44.70	$45.95	+2.80%
Jul 31, 2024	$42.58	$44.16	+3.71%
Apr 30, 2024	$39.85	$41.18	+3.34%
Feb 21, 2024	$37.08	$33.78	-8.90%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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