Why German Multinational Company Deutsche Bank's Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Deutsche Bank AG (NYSE:DB) shares are trading higher by around 7% after it reported Q3 FY23 results. The bank reported revenue growth of 3% Y/Y to €7.13 billion ($7.76 billion), beating the consensus of $7.11 billion. Corporate Bank net revenues increased 21% Y/Y to €1.89 billion. Private Bank revenues rose 3% Y/Y to €2.34 billion. Investment Bank net revenues declined 4% Y/Y to €2.27 billion. Asset Management revenues were down 10% Y/Y to €594 million. The bank also bought back shares worth up to €271 million by the end of 2023.
October 25, 2023 | 10:12 am
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Deutsche Bank's Q3 FY23 results beat expectations, leading to a surge in its share price.
Deutsche Bank reported strong Q3 FY23 results, with revenue growth of 3% Y/Y to $7.76 billion, beating the consensus of $7.11 billion. This positive financial performance has led to a surge in the bank's share price.
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