HSBC profit increases 9% but misses forecasts; shares slump

HSBC's (HSBC) 2013 pretax profit rose 9% to $22.56B but fell short of consensus of $24.6B.

Underlying revenue grew to $63.3B from $61.6B, while underlying operating costs dropped 6% to $38B.

Q4 pretax profit fell to $3.96B from $4.43B a year earlier.

HSBC increased its dividend to $0.49 a share from $0.45.

However, the bank warned of "choppy markets" this year as emerging economies adjust to "changing economic circumstances and sentiment."

Shares are -4.2% in London. (PR)

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs