Company: HBCYF
Filing Date: 2025-04-29
Form Type: 6-K
Source: 0001089113-25-000046
Chunk: 30

Company: HSBC HOLDINGS PLC
Filing Date: 2025-04-29
Form: 6-K
Chunk 30
---
.1bn were stable on a constant currency basis, reflecting the impact of business disposals in Canada and Argentina and continued cost discipline. This was broadly offset by increases reflecting continued investments in Wealth, higher spend and investment in technology, and the impact of inflation.

| 22 | HSBC Holdings plcEarnings Release 1Q25 on Form 6-K |

Earnings Release – 1Q25

Corporate Centre – constant currency basis

| Results – on a constant currency basis                 | Quarter ended |             |             |               |        |                                 |
|:-------------------------------------------------------|--------------:|------------:|------------:|--------------:|-------:|--------------------------------:|
|                                                        |               |             |             |      Variance |        |                                 |
|                                                        |               |             |             | 1Q25 vs. 1Q24 |        |                                 |
|                                                        |   31 Mar 2025 | 31 Dec 2024 | 31 Mar 2024 |               |        | of which strategictransactions1 |
|                                                        |            $m |          $m |          $m |            $m |      % |                              $m |
| Revenue                                                |           -58 |      -5,075 |       3,608 |        -3,666 | >(100) |                          -3,761 |
| ECL                                                    |             9 |          -2 |          -7 |            16 |   >100 |                               — |
| Operating expenses                                     |           -72 |         373 |        -185 |           113 |     61 |                              42 |
| Share of profit from associates and JVs lessimpairment |           803 |         669 |         749 |            54 |      7 |                               — |
| Profit before tax                                      |           682 |      -4,035 |       4,165 |        -3,483 |    -84 |                          -3,719 |

1 Impact of strategic transactions classified as material notable items. For further details, see ‘Strategic transactions supplementary analysis‘ on page 27 .

| Management view of revenue – on a constant currency basis | Quarter ended |             |             |               |        |                                 |
|:----------------------------------------------------------|--------------:|------------:|------------:|--------------:|-------:|--------------------------------:|
|                                                           |               |             |             |      Variance |        |                                 |
|                                                           |               |             |             | 1Q25 vs