ING Groep Third Quarter 2024 Earnings: Beats Expectations

ING Groep (AMS:INGA) Third Quarter 2024 Results

Key Financial Results

• Revenue: €5.58b (down 1.5% from 3Q 2023).
• Net income: €1.88b (down 5.1% from 3Q 2023).
• Profit margin: 34% (down from 35% in 3Q 2023).
• EPS: €0.59.

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

ING Groep Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 16%.

Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe.

Performance of the market in the Netherlands.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for ING Groep that you should be aware of.

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