HSBC sees 89% rise in quarterly pre-tax profit, beating analysts' expectations

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An HSBC Holdings bank branch in Hong Kong on May 24, 2022. A Hong Kong-based trade platform launched by HSBC Holdings three years ago with much fanfare has shut down after failing to build a commercially viable business.

Bertha Wang | Bloomberg | Getty Images

HSBCÂ on Monday reported a second quarter profit before tax of $8.77 billion, 89% higher than the same period a year ago.

It beat analysts expectations of $7.96 billion.

Net profit was $6.64 billion, beating the $6.35 billion expected in analysts' estimates compiled by the bank, jumping 27% compared to the same period a year before.

Total revenue for the second quarter came in at $16.71 billion, 38% higher than the $12.1 billion seen in the first half of 2022.

HSBC's Hong Kong listed shares rose 0.23% after the announcement.