HSBC Holdings plc Q1 profit before tax rose 30.7 percentChristian Fernsby ▼ | May 3, 2019
HSBC Holdings reported Friday that its first-quarter profit before tax rose 30.7 percent to $6.21 billion from last year's $4.76 billion.
HSBC Holdings The company noted that the increase reflected higher revenue in RBWM
Adjusted profit before tax was $6.35 billion, compared to $5.8 billion last year.
In the quarter, reported revenue of $14.43 billion was 5% higher than $13.71 billion a year ago, driven by adverse foreign currency translation differences of $0.7 billion, partly offset by a net favourable movement in significant items of $0.2 billion. Excluding foreign currency translation differences and significant items, revenue increased by $1.2 billion or 9% to $14.41 billion.
Further, the board announced first interim dividend for 2019 of $0.10 per ordinary share. ■