30.07.2024 06:49:39
|
Standard Chartered Q2 Results Rise, Lifts FY24 Operating Income View; To Buy Back $1.5 Bln Shares
(RTTNews) - British lending major Standard Chartered Plc (SCBFF.PK, STAC.L, STAN.L) reported Tuesday that its second-quarter profit before taxation grew 4 percent to $1.58 billion from last year's $1.52 billion.
Earnings per share were 36.7 US cents, up 5 percent from 34.8 US cents a year ago.
Underlying profit before taxation was $1.83 billion, compared to $1.60 billion last year. Underlying earnings per share were 45.5 US cents, compared to prior year's 37.3 US cents.
Operating income grew 2 percent to $4.66 billion from last year's $4.57 billion, despite a 19 percent drop in net interest income to $1.60 billion.
Underlying operating income went up 6 percent from last year to $4.81 billion, and was up 7 percent at constant currency. Underlying net interest income grew 5 percent to $2.56 billion.
Further, Standard Chartered upgraded its fiscal 2024 operating income guidance, and now expects to be above 7 percent in 2024 at constant currency rates. The company previously expected operating income to increase around the top of 5 percent to 7 percent range in 2024.
Net interest income for 2024 is still expected to be $10 billion to $10.25 billion, at constant currency.
Standard Chartered also announced its largest ever share buyback of $1.5 billion, starting imminently. This brings total shareholder distributions announced since full-year 2023 results to $2.7 billion.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

Wenn Sie mehr über das Thema Aktien erfahren wollen, finden Sie in unserem Ratgeber viele interessante Artikel dazu!
Jetzt informieren!