HSBC Reports Drop in 2014 Profits; Share Fall (HSBC)

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.

CEO Commentary

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.”

HSBC’s Dividend

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.

Stock Performance

Shares of HSBC were down $2.54, or 5.44%, during pre-market trading Monday. The stock is down 1.16% YTD.

Click here to see the complete history of HSBC vdividends.

The Bottom Line

HSBC (HSBC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.