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HSBC Posts Lower Q1 Results

HSBC Holdings plc (HSBA.L,HSBC) reported first-quarter profit after tax of $3.44 billion or $0.14 per share compared to $4.57 billion or $0.19 per share last year.

Profit before tax amounted to $4.17 billion versus $5.78 billion in the previous year. Adjusted profit before tax was $4.71 billion versus $6.28 billion reported a year ago.

Revenue for the quarter declined to $12.46 billion from $12.99 billion generated in the prior year period.

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