Despite Legal Headwinds, Barclays Reports Strong EarningsMark Melin
Barclays PLC (ADR) (NYSE:BCS) (LON:BARC) reported strong earnings on Thursday that were tempered by a yet another GBP500 million ($800 million USD) legal reserve set aside related to investigations into alleged manipulation of the foreign exchange market.
Barclays beats expectations by 15%
The bank recorded a pretax profit of GBP1.59 billion ($2.5 billion USD), up 15 percent and higher than expected. Lower than anticipated restructuring costs were cited as a reason for the upside profit surprise.
exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email email@example.com and we will get back to you as quick as humanly possible