Next Friday, July 27th, Barclays is due to announce its second quarter results.
Consensus is for profit of around £1.67 billion - Sales £7.29 billion in the three months to June. Flat year on year. The Telegraph is reporting £1.7 billion profit so if Barclays comes in above expectations it will be interesting to see if it has any effect on the current depressed share price. Given the way the market feels about the banking sector and Barclays right now, any big move in the share price may be to the downside if the update disappoints. Barclays shareholders will be hoping that at the very least the consensus forecasts are hit.
BarclaysSecondQuarter
Update on results from ADVFN market report.
ReplyDelete"Barclays's underlying pre-tax profits came in at £4.2bn, 11% ahead of consensus estimates, with investment banking division Barclays Capital leading the charge. Meanwhile, revenues of £15.5bn were 2% ahead of forecasts. Investors shrugged off the news of a new regulatory investigation - this time over fees it paid to advisors when it raised fresh capital in the middle of the credit crunch – with shares racing nearly 9% ahead. Sector peers Lloyds, RBS and Standard Chartered also rose."