Dod101 wrote:I find it remarkable on a day when we have had lot of company results there is hardly a single comment on any of them.
However you look at the results of HSBC they are surely great news for shareholders. The write down/ impairment in value of Bank of Communications is unwelcome but does not affect the cash resources of the Bank and has enabled them to make generous dividend promises and the share buyback.
The yield must now be in the order of 10% and yet the share price keeps going south. Quite incredible. Or I must be missing something?
Dod
What is there to say about the results of a bank though? I would think virtually no-one on this forum can read and understand the income statement or balance sheet of a bank. The dividend actually came in lower than analyst estimates of 63 cents, as did most other metrics including revenue and earnings per share. However, all that matters on results day are the forward looking statements, and as we have seen with other companies, a large asset write down really spooks the horses. More to come? Good luck with properly valuing a Chinese bank! And as for the results being great news for shareholders, I don't need to show you a long-term chart of the share price...