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Exceeding expectations, CEO Noel Quinn retires

Exceeding expectations, CEO Noel Quinn retires

The HSBC Holding logo is displayed on a smartphone with HSBC in the background in this illustration taken in Brussels, Belgium, on February 20, 2024.

Jonathan Ra | norphoto | Getty Images

HSBC beat market expectations in its first-quarter earnings report on Tuesday, announcing the shock resignation of group CEO Noel Quinn.

Revenue was $20.8 billion, up 3% from the same period last year and compared to LSEG's average forecast of about $16.94 billion.