Skandinaviska Enskilda Banken Second Quarter 2024 Earnings: Beats Expectations

Skandinaviska Enskilda Banken (STO:SEB A) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr20.3b (up 1.5% from 2Q 2023).
• Net income: kr9.42b (down 3.6% from 2Q 2023).
• Profit margin: 47% (down from 49% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: kr4.58 (down from kr4.65 in 2Q 2023).

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

Skandinaviska Enskilda Banken Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 5.7%.

Looking ahead, revenue is expected to fall by 1.9% p.a. on average during the next 3 years compared to a 1.3% decline forecast for the Banks industry in Sweden.

Performance of the Swedish Banks industry.

The company's shares are up 3.2% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Skandinaviska Enskilda Banken (including 1 which can't be ignored).

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com