HSBC Holdings Plc (NYSE: HSBC) has reported a second quarter of revenue growth and plans to return another $2 billion to investors and continues to increase capital into markets in Asia. Earnings also surged where adjusted revenue and pretax profit rose 4% and 13% beating analysts’ estimates. The bank plans to improve revenue and capital formation trends hoping to grow again after 5 years of declining revenue.
Since May 2013, HSBC’s stock increased 3.8% and shares have risen 56% in the past year. The bank makes majority of their earnings in Asia where revenue rose faster than costs. Bloomberg analysts estimated that HSBC’s pretax profit would total to $5.5 billion but the bank exceeds that by increasing 13% to $6 billion. Revenue in the quarter also increased 4% to $13.2 billion.