Shinhan Financial Group Third Quarter 2024 Earnings: Misses Expectations

Shinhan Financial Group (KRX:055550) Third Quarter 2024 Results

Key Financial Results

• Revenue: ₩3.86t (up 7.1% from 3Q 2023).
• Net income: ₩1.26t (up 10% from 3Q 2023).
• Profit margin: 33% (in line with 3Q 2023).
• EPS: ₩2,497 (up from ₩2,208 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Shinhan Financial Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 2.4%.

Looking ahead, revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in South Korea.

Performance of the South Korean Banks industry.

The company's shares are down 5.5% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Shinhan Financial Group that you need to take into consideration.

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