Barclays Beats Analyst Expectations with Second Quarter Profit Despite Drop in Net Interest Income

Benzinga
Benzinga
  • last month
Barclays reported a net profit for the second quarter, slightly down from last year due to a drop in net interest income in its UK units. This profit exceeded analyst expectations. Revenue surpassed forecasts, and the bank announced a share buyback program. Net interest income at the consumer bank fell, while the investment bank saw an income increase. Barclays raised its full-year net interest income target and highlighted a major restructuring to boost efficiency and profits.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02Barclays reported a net profit for the second quarter slightly down from last year due to a
00:07drop in net interest income in its UK units. This profit exceeded analysts' expectations.
00:13Revenue surpassed forecast and the bank announced a share buyback program.
00:17Net interest income at the consumer bank fell while the investment banks saw an income increase.
00:22Barclays raised its full-year net interest income target and highlighted a major restructuring
00:27aimed at boosting efficiency and profits.
00:29For all things money, visit Benzinga.com.

Recommended

1:04
I
Up next
Here's Why Tech Stocks May Lead The Way Into The End Of The Year
Benzinga
0:49
'They're Eating The Cats:' How Polymarket Traders Predicted Donald Trump's Bizarre Claim And The Pre-Debate Handshake
Benzinga
0:45
Apple's iPhone Production Move To India Signals Broader Tech Exodus From China, With Microsoft And Amazon Following Suit, Says Analyst
Benzinga
0:45
SpaceX Completes 1st-Ever Spacewalk By A Commercial Company As Part Of Polaris Dawn Mission
Benzinga
0:44
Nancy Pelosi Says Trump Lost To Kamala Harris And 'That's Why He Doesn't Want To Debate Again'
Benzinga
0:54
Barclays reveals an 8 per cent drop in half-year profits
Yorkshire Post
0:58
Goldman Sachs Revenue Down 8%
Benzinga
0:43
UBS Beats Analyst Estimates with Strong Second Quarter Profit. Integration with Credit Suisse Is Complete.
Benzinga
0:35
Bank of America Beats Expectations with Strong Q2 Earnings and Revenue Boosted By Investment Banking Fees
Benzinga
0:40
Wells Fargo's Second Quarter Net Interest Income Falls Short of Expectations, Stock Price Drops
Benzinga
0:42
Bank of America's Q4 Profit Falls Short of Expectations, Hit by $1.6B Charge
Benzinga
0:32
DoorDash Exceeds Revenue Expectations in Q2 Performance, Sees Surge in Total Orders
Benzinga
0:29
BP's Second Quarter Net Profit Surpasses Expectations, Dividend Raised
Benzinga
0:36
JPMorgan Chase's Q2 Earnings Beat Expectations, with Soaring Investment Banking Fees and Equities Trading Revenue
Benzinga
0:30
Stock Prices Expected To Dampen
Benzinga
1:01
NatWest becomes latest high street bank to report lower profits
Yorkshire Post
0:36
American Eagle's First-Quarter Net Income Quadruples, but Revenue Growth Falls Short of Expectations
Benzinga
0:43
Procter & Gamble Beats Q1 Earnings Estimates
Benzinga
0:59
Lloyds Banking Group sees its quarterly profits drop by more than a quarter
Yorkshire Post
0:45
Salesforce Beats Earnings and Revenue Expectations
Benzinga
0:50
Lloyds Banking Group reveals earnings dip as boost from borrowing costs slows
Yorkshire Post
2:34
Should you buy CrowdStrike stock? May 2023
Bullish Studio
0:35
Novo Nordisk Raises Sales Growth Outlook Despite Profit Miss. CEO Predicts 'Attractive Growth' Amidst Competition and Regulation Shifts.
Benzinga
0:31
Citigroup Beats Analyst Expectations with Strong Q2 Earnings, But Regulatory Challenges Loom
Benzinga
1:09
Vanquis warns over hit to profits from surge in claims and strategy overhaul
Yorkshire Post