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<Research>JPM: HSBC HOLDINGS 1Q25 Results Beat, But Stock Price May Fluctuate in ST
Recommend 14 Positive 34 Negative 21 |
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HSBC HOLDINGS (00005.HK) beat expectations with its 1Q25 results, JPMorgan wrote in its research report. Specifically, the bank's revenue surpassed the market/ JPMorgan forecasts by 6%/ 8%, mainly attributable to robust non-interest income growth from wealth management and transaction banking businesses. Its net interest income was largely in line with forecasts, while operating expenses were 4%/ 3% lower than the market/ broker estimates. Impairment charges aligned with market expectations but fell short of the broker's. Net profit before tax also beat the market/ broker forecasts by 15%/ 24%. Although HSBC HOLDINGS' share price has recovered its losses since the "Liberation Day" announcement on reciprocal tariffs, JPMorgan believes that downside scenarios have yet to be reflected in the bank's share price. As a result, its share price may fluctuate in the near term. JPMorgan kept the Overweight rating on HSBC HOLDINGS. AAStocks Financial News |
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