The share of HSBC fell on Wednesday, as investors got profits after issuing their financial data. The company announced a jump of $ 1.3 billion in a quarterly profit before taxes for a period of three months ending in December 2024 to $ 2.3 billion. Pre -tax profits for a full year amounted to 32.31 billion dollars, an increase of 30.35 billion dollars for the corresponding quarter in 2023.
The share profits of the share (EPS) grew by $ 0.10 to $ 1.24 for the whole year, and the bank announced the stock re -purchase of $ 2 billion, which aims to complete it before the end of 2025. This support will provide HSBC price in the coming weeks. Also, the company announced the distribution of profits of $ 0.36 for December quarter, an increase of 16 %. Moreover, it provides a structural modification program aimed at saving $ 1.5 billion by 2026.
On the negative side, HSBC (LSE: HSBA) witnessed its revenue for a full year by 0.6 % to $ 65.85 of the previous year 66.06 billion dollars. Also, net interest margins decreased by $ 3.1 billion for a full year to $ 32.7 billion and operating expenses increased by 1 % to one billion dollars. However, measures to reduce $ 300 million per year can help reduce this. However, the HSBC share price is close to its highest level in the age of twenty, and investors are likely to be optimistic about his ability to stay on the path of growth.
HSBC predicts the share price
HSBC’s share is a axis of $ 900 and sellers will control if the procedure remains less than this level. This support is likely to come at $ 887. However, a stronger landing momentum will lead to the collapse of this level and can test the second support at $ 880.
On the contrary, going to above 900 dollars will turn the momentum into the upper direction. If this happens, the arrow is likely to face the first resistance at $ 907. The breaking of this level will nullify the narration of the downside and can remove the path to the second resistance test at $ 915.
