HSBC announces Q3 earnings per share of 28 cents, down from 34 cents a year ago.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 28 2025
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Q3 Financial Performance: The company reported Q3 revenue of $17.8B, up from $17B last year, but profit before tax decreased to $7.3B due to increased operating expenses, including $1.4B in legal provisions.
Profit and Return Metrics: Profit after tax was $5.5B, down $1.2B from the previous year, while constant currency profit before tax excluding notable items rose by 3% to $9.1B.
Net Interest Margin and Capital Ratios: The net interest margin increased to 1.57%, benefiting from the non-recurrence of prior losses, while the common equity tier 1 capital ratio decreased slightly to 14.5% due to legal provisions.
Strategic Focus and Future Outlook: CEO Georges Elhedery emphasized the bank's commitment to becoming more agile and focused, expressing confidence in achieving mid-teens return on tangible equity targets for 2025, despite current challenges.
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Analyst Views on HSBC
About HSBC
HSBC Holdings plc (HSBC) is a banking and financial services company. Its business segments include Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB). Its Hong Kong business comprises retail banking and wealth and commercial banking of HSBC Hong Kong and Hang Seng Bank. Its UK business comprises UK retail banking and wealth (including first direct and M&S Bank) and UK commercial banking, including HSBC Innovation Bank. The CIB segment is formed from the integration of its commercial banking business (outside the UK and Hong Kong) with its global banking and markets business. The IWPB segment comprises premier banking outside of Hong Kong and the UK, its global private bank, and its asset management, insurance and investment distribution businesses. Its customers worldwide through a network covering 58 countries and territories. Its customers range from individual savers and investors to companies, governments and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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