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exceeds expectations: CEO Noel Quinn retires

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

Jonathan Raa | Nurfoto | Getty Images

HSBC beat market expectations in its first-quarter earnings report on Tuesday and announced the surprise departure of Group Chief Executive Officer Noel Quinn.

Revenue came in at $20.8 billion, up 3% from the same period a year ago and compared to the average LSEG forecast of about $16.94 billion.

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