Bank of East Asia (HKG:23) 1H 2024 financial results
Key Financial Results
Revenue: HK$7.5bn (down 3.4% from 1H2023). Net profit: HK$1.81bn (down 22% from 1H2023). Margin: 24% (down from 30% in 1H2023). The decline in margin is mainly due to increased expenses. EPS: HK$0.69 (down from HK$0.87 in 1H2023). SEHK:23 Revenue and Sales Growth 25 Aug 2024
All figures shown in the chart above are for the trailing twelve month (TTM) period.
Bank of East Asia's revenues and profits fall short of expectations
Revenues were 1.0% below analyst expectations. Earnings per share (EPS) also came in 14% below analyst expectations.
Looking ahead, revenues are expected to grow by an average of 9.8% over the next three years, compared with a growth forecast of 9.7% for Hong Kong's banking industry.
Hong Kong banking industry performance.
The company's shares are up 2.9% from a week ago.
Risk Analysis
You should always think about risks, as an example, we've spotted 2 warning signs for Bank of East Asia you should be aware of.
Valuation is complicated, but we're here to simplify it.
Our detailed analysis, including fair value estimates, potential risks, dividends, insider trading, financials, and more, will help you determine whether Bank of East Asia is undervalued or overvalued.
Access free analysis
Have something to say about this article? Do you have any questions about the content? Contact us directly or email us at editorial-team (at) simplywallst.com.
This article by Simply Wall St is of general nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodology, and our articles are not intended as financial advice. It is not a recommendation to buy or sell stocks, and does not take into account your objectives or financial situation. We aim to provide long-term analysis driven by fundamental data. Please note that our analysis may not take into account the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any of the stocks mentioned herein.
