HSBC shares drop as first-quarter pre-tax profit misses estimates on higher expected credit losses
Orientul Mijlociu
Europe's largest lender HSBC on Tuesday reported first-quarter pre-tax profit of $9.4 billion, missing analysts' estimates on the back of higher expected credit losses and other impairment charges. HSBC's revenue gained 6%, year on year, exceeding estimates, on stronger wealth fee and other income. Here are HSBC's first-quarter results compared with the consensus estimates compiled by the bank. The lender, whose first-quarter profit before tax fell 1% year on year, saw shares in Hong Kong drop
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