Investing.com - HSBC reported on Tuesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
HSBC announced earnings per share of $0.05 on revenue of $9.26B. Analysts polled by Investing.com anticipated EPS of $0.06 on revenue of $9.5B.
HSBC shares are down 42% from the beginning of the year and are trading at $340.90 , down-from-52-week-high.They are under-performing the STOXX 600 which is down 14.82% from the start of the year.
HSBC shares gained 6.75% in intra-day trade the report.
HSBC follows other major Financial sector earnings this month
HSBC's report follows an earnings beat by Barclays on Friday, who reported EPS of $0.04 on revenue of $5.2B, compared to forecasts EPS of $0.01 on revenue of $4.86B.
River and Mercantile Group PLC had missed expectations on October 8 with third quarter EPS of $0.02 on revenue of $34.21M, compared to forecast for EPS of $4.40 on revenue of $39.20M.
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