HSBC Beats First-Half Profit, Resumes Share Buyback, Raises Outlook
HSBC reported first-half profit of $19.5 billion, up 23% and ahead of analysts’ $18.9 billion estimate, driven by wealth management growth and a resumed share buyback, alongside a raised outlook for net interest income. Corporate and institutional banking is now its biggest income source, producing about a third of first-half profit.