Before the opening bell on Monday, London-based bank HSBC Holdings (HSBC ) released its financial results for FY2014.
HSBC's Earnings in Brief
- Earnings attributable to shareholders fell 16% to $13.12 billion, or 69 cents per share. Last year, the company posted EPS of 84 cents.
- Revenue declined to $61.25 billion from $64.65 billion last year.
- Looking ahead to FY2015, the company reported that its performance so far in 2015 has been satisfactory.
HSBC’s CEO Stuart Gulliver commented: “2014 was a challenging year in which we continued to work hard to improve business performance while managing the impact of a higher operating cost base. Profits disappointed, although a tough fourth quarter masked some of the progress made over the preceding three quarters.”
The ADR version of HSBC shares currently pays a 50 cent quarterly dividend. We expect the next dividend to be declared in the coming weeks.
Shares of HSBC were down $2.54, or 5.44%, during pre-market trading Monday. The stock is down 1.16% YTD.