Fri, February 14, 2025
Thu, February 13, 2025
Wed, February 12, 2025

Barclays shares sink 5% as fourth-quarter profit hike and 2025 guidance fail to impress

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. ofit-hike-and-2025-guidance-fail-to-impress.html
  Print publication without navigation Published in Business and Finance on by MSN
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
British bank Barclays posted a rise in full-year pre-tax profit that came in just ahead of analyst expectations, while also launching a £1 billion share buyback.
Barclays shares experienced a significant drop of 5% following the announcement of their fourth-quarter results, despite reporting a profit increase and providing guidance for 2025. The bank's pre-tax profit for the quarter rose to £1.3 billion, up from £1.2 billion the previous year, driven by a strong performance in its UK retail banking and consumer, cards, and payments divisions. However, this was overshadowed by a £500 million hit from the bank's US operations, particularly in the investment banking sector, which saw a decline in deal-making activities. Additionally, Barclays announced a cost-cutting initiative aiming to save £1 billion by 2025, but this did not reassure investors, who were also concerned about the bank's exposure to potential economic downturns and the broader financial environment. The market's reaction reflects skepticism about Barclays' ability to navigate ongoing economic challenges and achieve its strategic goals.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/barclays-shares-sink-5-as-fourth-quarter-profit-hike-and-2025-guidance-fail-to-impress/ar-AA1yXgiQ ]