CTBC Financial Holding Second Quarter 2024 Earnings: Beats Expectations

CTBC Financial Holding (TWSE:2891) Second Quarter 2024 Results

Key Financial Results

• Revenue: NT$60.1b (down 36% from 2Q 2023).
• Net income: NT$16.3b (up 2.7% from 2Q 2023).
• Profit margin: 27% (up from 17% in 2Q 2023). The increase in margin was driven by lower expenses.
• EPS: NT$0.78.

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

CTBC Financial Holding Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 13%.

Looking ahead, revenue is expected to fall by 28% p.a. on average during the next 3 years compared to a 3.8% decline forecast for the Banks industry in Taiwan.

Performance of the Taiwanese Banks industry.

The company's shares are down 5.2% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of CTBC Financial Holding's balance sheet and an in-depth analysis of the company's financial position.

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