HSBC says net profit jumps in third quarter but misses forecasts

HSBC’s third-quarter net profit increased 45.5 percent from a year earlier to US$7 billion, but remained below the US$7.3 billion analyst estimate, Business Recorder reported. The London-headquartered bank recorded pre-tax earnings of US$9.6 billion, up 32 percent, while revenue rose by US$800 million to US$18.6 billion. It also declared a third interim dividend of US$0.10 per share and disclosed a further US$1 billion share buyback.

The results came as HSBC continues restructuring, reducing jobs and expanding its use of artificial intelligence. The bank said cost-saving measures had generated US$1.4 billion in savings since 2025, and maintained its goal of returns on tangible equity of at least 17 percent through 2028. Investors reacted negatively: HSBC shares in Hong Kong fell more than 6 percent during afternoon trading, to around HK$133.5. The report also said the bank expects 2025 banking net interest income of at least US$46 billion.