{"id":619391,"date":"2024-05-01T00:00:00","date_gmt":"2024-05-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/"},"modified":"2024-05-01T00:00:00","modified_gmt":"2024-05-01T00:00:00","slug":"hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/","title":{"rendered":"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns"},"content":{"rendered":"

HSBC\u2019s revenues rose 3% y-o-y to <\/strong>U<\/strong>SD 20.8<\/strong> bn in 1Q 2024<\/strong>, defying the London Stock Exchange Group\u2019s forecast<\/a> of just USD 16.9 bn. The bank\u2019s net income after tax logged USD 10.8 bn for the quarter, down 1.7% on the same period last year, according to the e<\/a>arnings report (pdf)<\/a>.<\/p>\n

Driving the increase in revenues:<\/strong> The lender\u2019s revenues were up due to the selling of its banking business in Canada to the Royal Bank of Canada in late March, which amounted to a gain of USD 4.8 bn. Revenues were also driven by \u201chigher wealth revenue in Wealth and Personal Banking, notably from a strong performance in Global Private Banking, well as revenue growth in Equities and Securities Financing in Global Banking and Markets, as market sentiment improved.\u201d <\/p>\n

Dragging down the lender\u2019s bottom line: <\/strong>The lender\u2019s net income after tax was down due to a USD 2.1 bn adjustment in 1Q 2023 related to the sale of its French retail banking operations. This adjustment was reversed in 4Q 2023 before the sale was finalized. Additionally, net income before tax in 1Q 2023 included a USD 1.5 bn gain from acquiring Silicon Valley Bank UK, according to the bank\u2019s financials.<\/p>\n

On a quarterly basis:<\/strong> The lender\u2019s net income after tax surged almost 48x q-o-q from USD 222mn, while revenues were up 59% from USD 13 bn in 4Q 2023.<\/p>\n

NOEL QUINN IS LEAVING HSBC-<\/p>\n

HSBC\u2019s chief executive Noel Quinn is stepping down<\/strong> from his post after nearly five years, the bank said in a statement<\/a>. \u201cAfter an intense five years, it is now the right time for me to get a better balance between my personal and business life. I intend to pursue a portfolio career going forward,\u201d said Quinn. The lender\u2019s board has begun its search for Quinn\u2019s successor and should settle on a replacement by 2H 2024<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

CEO Noel Quinn is stepping down from his post after nearly five years<\/p>\n","protected":false},"author":1,"featured_media":619392,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[204,409,72,490],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-619391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-banking","tag-earnings-watch","tag-enterpriseam","tag-hsbc","wpautop","entry"],"acf":{"mongo_id":"f8f59d8a-bc1c-47f0-8c51-c11e8ddc709b","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/2211.jpg","photo_position":"above","homepage_title":"","full_issue_title":"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns","related_issue":[619380],"teaser":"CEO Noel Quinn is stepping down from his post after nearly five years","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.c7827ae5-4105-4eaa-8bd2-5e9d773df15e.mp3"},"yoast_head":"\nHSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns\" \/>\n<meta property=\"og:description\" content=\"CEO Noel Quinn is stepping down from his post after nearly five years\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-01T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns\",\"datePublished\":\"2024-05-01T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/\"},\"wordCount\":317,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1\",\"keywords\":[\"banking\",\"earnings watch\",\"EnterpriseAM\",\"HSBC\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/\",\"name\":\"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-05-01T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/","og_locale":"en_US","og_type":"article","og_title":"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns","og_description":"CEO Noel Quinn is stepping down from his post after nearly five years","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-05-01T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns","datePublished":"2024-05-01T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/"},"wordCount":317,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1","keywords":["banking","earnings watch","EnterpriseAM","HSBC"],"articleSection":["EARNINGS WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/","name":"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1","datePublished":"2024-05-01T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/hsbcs-revenue-inches-up-in-q1-2024-ceo-noel-quinn-resigns\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"HSBC\u2019s revenue inches up in Q1 2024 + CEO Noel Quinn resigns"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2211.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":592312,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/03\/hsbcs-net-income-more-than-doubles-in-1h-on-rising-rates\/","url_meta":{"origin":619391,"position":0},"title":"HSBC\u2019s net income more than doubles in 1H on rising rates","author":"enterpriseam admin","date":"3 August 2023","format":false,"excerpt":"The bank has upgraded its full-year guidance for net interest income","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/111.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577532,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/27\/oc-revenues-up-20-y-o-y-in-9m-2022\/","url_meta":{"origin":619391,"position":1},"title":"OC revenues up 20% y-o-y in 9M 2022","author":"enterpriseam admin","date":"27 November 2022","format":false,"excerpt":"Orascom Construction (OC) reported a 20.1% y-o-y rise in revenues to USD 3.05 bn in 9M 2022, according to its latest earnings release (pdf). Net income recorded USD 57.8 mn in the first nine months of the year (down 24.0% y-o-y.) The construction giant's revenues were up 32.7% y-o-y to\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/419.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584053,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/efg-hermes-and-orascom-construction-report-higher-revenues-in-2022\/","url_meta":{"origin":619391,"position":2},"title":"EFG Hermes and Orascom Construction report higher revenues in 2022","author":"enterpriseam admin","date":"26 March 2023","format":false,"excerpt":"Investment bank and non-bank lending sees strong growth","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/428.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555564,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/18\/earnings-watch-efg-hermes-orascom-construction-report-3q2021-results\/","url_meta":{"origin":619391,"position":3},"title":"Earnings Watch: EFG Hermes, Orascom Construction report 3Q2021 results","author":"enterpriseam admin","date":"18 November 2021","format":false,"excerpt":"EFG Hermes\u2019 net income dropped 16% y-o-y to EGP 356 mn in 3Q2021, according to its quarterly earning release (pdf). The financial services group\u2019s revenue fell 17% to EGP 1.2 bn during the quarter mainly due to an unfavorable base effect related to a one-time private equity incentive fee booked\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598132,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/15\/earnings-watch-efg-hermes-talaat-moustafa-telecom-egypt-porto-group-credit-agricole-vodafone-egypt\/","url_meta":{"origin":619391,"position":4},"title":"Earnings Watch: EFG Hermes, Talaat Moustafa, Telecom Egypt, Porto Group, Credit Agricole, Vodafone Egypt","author":"enterpriseam admin","date":"15 May 2019","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes net profits rise 51% y-o-y in 1Q2019 to EGP 374 mn, the company announced in a statement (pdf). Revenues rose 42% y-o-y to reach EGP 1.3 bn, up from EGP 945 mn in 1Q2018. Earnings growth was driven by a 58% y-o-y increase in commissions and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587916,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/04\/orascom-construction-revenues-slip-in-1q-2023\/","url_meta":{"origin":619391,"position":5},"title":"Orascom Construction revenues slip in 1Q 2023","author":"enterpriseam admin","date":"4 June 2023","format":false,"excerpt":"Backlog dips to USD 5.5 bn","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/67.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/619391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=619391"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/619391\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/619380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/619392"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=619391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=619391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=619391"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=619391"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=619391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}