The earnings call presented a generally positive outlook, highlighting strong financial performance, significant growth in customer base, and advancements in digital services. However, concerns remain regarding challenges in the Hong Kong commercial real estate market and the Bank of Communications impairment.

Company Guidance

During the call, HSBC's leadership provided guidance and insight into their financial performance and strategic initiatives. They reported a 6% revenue growth in the first half of 2025, reaching $35.4 billion, and a 5% increase in profit before tax, totaling $18.9 billion. The bank announced a $0.10 dividend per share and a share buyback of up to $3 billion, with total shareholder distributions amounting to $9.5 billion for the half year. HSBC maintained its full-year banking net interest income (NII) guidance at around $42 billion despite challenges like HIBOR headwinds. They also projected a revised full-year expected credit loss (ECL) guidance of around 40 basis points, an increase from the previous 30 to 40 basis points range. The bank highlighted its ongoing efforts in organizational simplification, aiming to realize $1.5 billion in cost savings by 2026. Additionally, HSBC emphasized its strategic exits from non-core activities and investments in growth areas, such as their Wealth business and digital initiatives like HSBC Tokenised Deposit Services. The leadership reaffirmed their mid-teens return on tangible equity guidance for 2025 through 2027.

Strong Half-Year Performance

Revenue in the first half grew 6% to $35.4 billion. Profit before tax was 5% higher at $18.9 billion. Annualized return on tangible equity was 18.2%, up 1.2% year-on-year.

Growth in Customer Base

In Hong Kong, HSBC attracted 100,000 new-to-bank customers every month, and in the U.K., the loan book grew by $6 billion over the quarter on a constant currency basis.

Dividend and Share Buyback

Announced a $0.10 dividend per share and a share buyback of up to $3 billion, bringing total shareholder distributions to $9.5 billion for the half-year.

Deposit Growth

Deposits grew by $83 billion year-on-year, a 5% increase, showing strong liquidity and customer trust.

Progress in Wealth Management

Fee and other income in Wealth businesses grew 21% year-on-year. Net new invested assets were $22 billion in the quarter.

Organizational Simplification Savings

On track to deliver $1.5 billion in simplification savings by the end of 2026, with $0.4 billion recognized in 2025.

Advancements in Digital Services

Launched HSBC Tokenised Deposit Services in Hong Kong and Singapore, with further expansion planned, enhancing cross-border payment capabilities.

HSBC Holdings (HSBC) Earnings, Revenues Date & History

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HSBC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	1.57 / -	1.7	―	―	―
Jul 30, 2025	2025 (Q2)	1.65 / 1.95	1.75	11.43% (+0.20)
Apr 29, 2025	2025 (Q1)	1.65 / 1.95	2.7	-27.78% (-0.75)
Feb 19, 2025	2024 (Q4)	1.29 / 1.45	1.2	20.83% (+0.25)
Oct 29, 2024	2024 (Q3)	1.50 / 1.70	1.45	17.24% (+0.25)
Jul 31, 2024	2024 (Q2)	1.61 / 1.75	1.725	1.45% (+0.02)
Apr 30, 2024	2024 (Q1)	1.61 / 2.70	2.6	3.85% (+0.10)
Feb 21, 2024	2023 (Q4)	1.37 / 1.20	1.15	4.35% (+0.05)
Oct 30, 2023	2023 (Q3)	1.52 / 1.45	0.5	190.00% (+0.95)
Aug 01, 2023	2023 (Q2)	1.59 / 1.73	1.4	23.21% (+0.33)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

HSBC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$64.57	$61.02	-5.50%
Apr 29, 2025	$55.43	$56.54	+2.00%
Feb 19, 2025	$54.27	$54.35	+0.15%
Oct 29, 2024	$42.65	$43.85	+2.81%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.