Stock Analysis
Swedbank Second Quarter 2024 Earnings: Beats Expectations
Swedbank (STO:SWED A) Second Quarter 2024 Results
Key Financial Results
- Revenue: kr18.5b (up 3.0% from 2Q 2023).
- Net income: kr8.60b (down 5.8% from 2Q 2023).
- Profit margin: 46% (down from 51% in 2Q 2023). The decrease in margin was driven by higher expenses.
- EPS: kr7.64 (down from kr8.11 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Swedbank Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 10%.
Looking ahead, revenue is expected to fall by 3.6% 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 share price is broadly unchanged from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Swedbank (1 is concerning) you should be aware of.
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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.
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About OM:SWED A
Swedbank
Provides various banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.