Why Barclays Shares Are Sliding Today
Portfolio Pulse from Lekha Gupta
Barclays PLC (NYSE:BCS) shares are down by around 4% after the company reported Q2 2023 results. Total income fell 6% Y/Y to £6.3 billion, with operating expenses rising 21% Y/Y. The company saw growth in Barclays UK income (+14% Y/Y) but a decline in Barclays International (-13% Y/Y). The bank disclosed H1 2023 dividend of 2.7p and a share buyback worth £750 million. For 2023, BCS continues to expect loan loss rate of 50-60bps and return on tangible equity of above 10%.
July 27, 2023 | 12:26 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Barclays shares are down following Q2 2023 results. The company reported a 6% Y/Y fall in total income and a 21% Y/Y rise in operating expenses. Despite growth in Barclays UK income, there was a decline in Barclays International.
The decline in Barclays' share price is likely due to the reported decrease in total income and increase in operating expenses. Despite growth in Barclays UK income, the decline in Barclays International could be a concern for investors, leading to the drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100