Investing.com - Standard Chartered (OTC:SCBFF) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Standard Chartered announced earnings per share of $0.342 on revenue of $4.27B. Analysts polled by Investing.com anticipated EPS of $0.2273 on revenue of $3.86B.
Standard Chartered shares are down 12% from the beginning of the year, still down 5.53% from its 52 week high of $590.00 set on February 21. They are under-performing the S&P Global 100 which is down 10.1% from the start of the year.
Standard Chartered shares gained 16.20% in intra-day trade following the report.
Standard Chartered follows other major Financial sector earnings this month
Standard Chartered's report follows an earnings missed by HSBC on Tuesday, who reported EPS of $0.1109 on revenue of $9.94B, compared to forecasts EPS of $0.131 on revenue of $9.76B.
Lloyds Banking had beat expectations on Wednesday with first quarter EPS of $0.015 on revenue of $4.11B, compared to forecast for EPS of $0.0148 on revenue of $4.04B.
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