HSBC first-quarter pre-tax profit misses estimates on larger-than-expected credit losses

Europe’s largest lender HSBC on Tuesday reported first-quarter pre-tax profit of $9.4 billion, marginally missing analysts’ estimates on the back of larger-than-expected credit losses and other impairment charges.

HSBC’s revenue gained 6%, year on year, exceeding estimates.

Here are HSBC’s first-quarter results compared with theconsensus estimatescompiled by the bank.

• Pre-tax profit:$9.4 billion vs. $9.59 billion
• Revenue:$18.6 billion vs. $18.49 billion

The lender’s first-quarter profit before tax fell to $9.4 billion, down from $9.5 billion a year earlier.