HSBC Holdings plc: EPS $2.10 vs $2.20 expected; revenue $18.7B vs $19.0B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 2.10 | 2.20 | −4.5% | 1.80 |
| Revenue (USD bn) | 18.68 | 18.98 | −1.6% | — |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Oct 27, 2026 | Q3 FY2026 | 2.10 | 2.20 | −4.5% | 18.68 | 18.98 | −1.6% |
| Aug 4, 2026 | Q2 FY2026 | 2.25 | 2.24 | +0.4% | 19.04 | 18.66 | +2.1% |
| May 5, 2026 | Q1 FY2026 | 2.00 | 2.18 | −8.3% | 19.13 | 18.60 | +2.8% |
| Feb 25, 2026 | Q4 FY2025 | 1.85 | 1.80 | +2.8% | 17.70 | 17.01 | +4.0% |
| Oct 28, 2025 | Q3 FY2025 | 1.80 | 1.65 | +9.1% | — | — | — |
| Jul 30, 2025 | Q2 FY2025 | 1.95 | 1.62 | +20.4% | 14.41 | 16.44 | −12.4% |
| Apr 29, 2025 | Q1 FY2025 | 1.95 | 1.60 | +21.9% | — | — | — |
| Feb 19, 2025 | Q4 FY2024 | 1.45 | 1.41 | +2.8% | 16.96 | 16.60 | +2.2% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
HSBC Holdings plc results: EPS $2.10 vs $2.20 expected; revenue $18.7B vs $19.0B. The results cover the company's Q3 FY2026. EPS came in below analysts' estimate by 4.5%; revenue below the estimate by 1.6%.
EPS was up 16.7% from $1.80 a year earlier. On its record, EPS topped analysts' estimates in 6 of 7 earlier comparable reports.
What the results mean
HSBC Holdings plc combines personal banking and wealth management with commercial banking and global banking and markets. Interpreting the results requires understanding how lending, investment services and payments contribute to the business, since each has distinct drivers tied to client needs.
Personal banking activity is linked to the use of accounts, cards, mortgages and personal loans, while wealth management is linked to client appetite for investments, insurance and asset management. In commercial banking, trade finance, liquidity management, foreign exchange and capital raising provide context for understanding demand for the bank’s services.
What to watch on the earnings call: Listen for management’s discussion of demand for loans and wealth management services, and how corporate clients are using trade finance, liquidity management and international payments. Clarification of how the various activities contribute to income and the costs of delivering them would also help explain profitability drivers.
For the full analysis of HSBC Holdings plc stock — valuation, scores and financial statements — see the stock page linked with this story.