Barclays Benefits from Earnings Beat and Share Buyback

4 days ago

Chloe Mele

"So that on L'Oreal Barclays though has announced a narrow earnings beat and also this 500 million pound share buyback. Investors seem to be viewing that fairly positively. Yeah, absolutely. So actually upgraded its guidance for net interest income as well and announced that it is now going to move towards quarterly share buybacks. Of course, it had to almost quadruple the provisions related to the motor finance redress program and booked a 110 million pound credit impairment charge, but overall the market reaction has been positive."

The commentary highlights that Barclays has posted a narrow earnings beat coupled with a 500 million pound share buyback and an upgrade of its net interest income guidance. Despite some headwinds such as increased provisions and a credit impairment charge, investors have reacted positively to the news.

Related Stocks