World

Societe Generale delivers big earnings beat after second-quarter loss

A logo outside a Societe Generale SA bank branch in Paris, France.

Bloomberg | Bloomberg | Getty Images

LONDON — Societe Generale reported a net income of 862 million euros ($ 1.011 billion) for the third quarter on Thursday.

Analysts had estimated a net income of 458 million euros for the quarter, according to Refinitiv.

This comes after the French bank reported a net loss of 1.26 billion euros for the second quarter of the year due to Covid-related provisions and the reduced value of its trading business.

Shares of Societe Generale are down about 58% year-to-date.

This is a breaking news story, please check back later for more.


Source link

Related Articles

Back to top button