Lates News

Goldman Sachs released a research report pointing out that HSBC Holdings' first-quarter performance exceeded both the bank's and market expectations. Management maintained the guidance for return on tangible equity from fiscal year 2025 to fiscal year 2027 in the low double digits, while also confirming a net interest income guidance of $42 billion for fiscal year 2025 with a targeted cost increase of 3%. The bank raised its earnings per share forecasts for fiscal years 2025 to 2029 by 4%, 5%, 4%, 2%, and 1%, respectively, and increased the target price for H shares from HK$98 to HK$101, maintaining a "buy" rating. The bank now expects net interest income for fiscal years 2025 to 2027 to reach $41.5 billion, $41.8 billion, and $43.1 billion, with revenue forecasts for the company during that period at $66.8 billion, $67.8 billion, and $70.4 billion. As for the impact of tariffs, management stated that many corporate clients of its trading bank segment are adopting a wait-and-see approach, and overall, management believes that there is a low single-digit downside risk to revenue.