HSBC delivered a strong first-half performance with significant revenue and profit growth, coupled with substantial customer acquisition and strategic advancements in technology and services. However, challenges such as HIBOR rate impacts, Hong Kong CRE pressures, and macroeconomic uncertainties present ongoing risks.

Company Guidance -

Q3 2025

In the recent call, HSBC Holdings plc provided guidance on several key financial metrics. Revenue for the first half of 2025, excluding notable items, grew by 6% to $35.4 billion, and profit before tax increased by 5% to $18.9 billion. The annualized return on tangible equity was 18.2%, reflecting a 1.2% year-on-year increase. The bank announced a $0.10 dividend per share for the second quarter and a share buyback of up to $3 billion, contributing to total shareholder distributions of $9.5 billion for the half year. HSBC's deposit base grew by $83 billion over the past year, despite challenges such as HIBOR headwinds, and the full-year banking net interest income (NII) is expected to be around $42 billion. The bank's cost-efficiency initiatives are on track to deliver approximately $1.5 billion in simplification savings by the end of 2026. Additionally, HSBC revised its expected full-year expected credit loss (ECL) guidance to around 40 basis points. The group remains committed to its mid-teens return on tangible equity guidance, excluding notable items, for 2025, 2026, and 2027.

Strong First Half Performance

Excluding notable items, revenue in the first half of 2025 grew 6% to $35.4 billion, with profit before tax up 5% at $18.9 billion. Annualized return on tangible equity rose to 18.2%.

Significant Customer Growth

In Hong Kong, HSBC attracted 100,000 new-to-bank customers every month on average in 2025, while in the UK, the loan book grew by $6 billion over the quarter.

Dividend and Share Buyback Highlights

Announced a $0.10 dividend per share and a share buyback of up to $3 billion, bringing total shareholder distributions in the first half of 2025 to $9.5 billion.

Transaction Banking and Wealth Growth

Wholesale transaction banking fee and other income grew by 5% in Q2, with net new invested assets of $22 billion in Q2, and $75 billion over the last 12 months.

Advancements in Technology and Services

Launched HSBC TradePay in the U.S. and Tokenised Deposit Services in several markets, enhancing payment solutions globally.

HSBC Holdings (HK:0005) Earnings, Revenues Date & History

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HK:0005 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q3)	2.47 / -	2.669	―	―	―
Jul 30, 2025	2025 (Q2)	2.59 / 3.06	2.747	11.43% (+0.31)	―	―
Apr 29, 2025	2025 (Q1)	2.59 / 3.06	4.239	-27.78% (-1.18)	―	―
Feb 19, 2025	2024 (Q4)	2.03 / 2.28	1.884	20.83% (+0.39)	―	―
Oct 29, 2024	2024 (Q3)	2.36 / 2.67	2.276	17.24% (+0.39)	―	―
Jul 31, 2024	2024 (Q2)	2.53 / 2.75	2.708	1.45% (+0.04)	―	―
Apr 30, 2024	2024 (Q1)	2.53 / 4.24	4.082	3.85% (+0.16)	―	―
Feb 21, 2024	2023 (Q4)	2.15 / 1.88	1.805	4.35% (+0.08)	―	―
Oct 30, 2023	2023 (Q3)	2.38 / 2.28	0.785	190.00% (+1.49)	―	―
Aug 01, 2023	2023 (Q2)	2.50 / 2.71	2.198	23.21% (+0.51)	―	―

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

HK:0005 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	HK$100.80	HK$96.95	-3.82%
Apr 29, 2025	HK$84.99	HK$87.57	+3.03%
Feb 19, 2025	HK$83.85	HK$85.01	+1.38%
Oct 29, 2024	HK$65.67	HK$68.10	+3.69%

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.