HSBC Holdings (HSBC) Misses Q3 EPS by 90c; Offers Guidance

HSBC Holdings (NYSE: HSBC) reported Q3 EPS of $0.10, $0.90 worse than the analyst estimate of $1.00. Revenue for the quarter came in at $14.3 billion versus the consensus estimate of $13.64 billion.
Guidance:
Revenue remains positive and we have upgraded our net interest income guidance for 2022 to $32B.
Expect net interest income of at least $36B.
ECL charges to be around 30bps of average loans in 2022.
Remain on track for 2022 adjusted operating expenses to be broadly stable compared with 2021.
Continue to target a return on average tangible equity of at least 12% from 2023 onwards, and expect a dividend payout ratio of 50% for 2023 and 2024.
While our CET1 position of 13.4% is below our medium-term target range of 14% to 14.5%.

For earnings history and earnings-related data on HSBC Holdings (HSBC) click here.

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