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Barclays narrowly beats profit forecasts on strong consumer, credit card business

Garry Wills by Garry Wills
October 24, 2023
in Business Finance
Barclays narrowly beats profit forecasts on strong consumer, credit card business
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A view of the Canary Wharf financial district of London.

Prisma by Dukas | Universal Images Group | Getty Images

LONDON — Barclays on Tuesday reported a net profit of £1.27 billion ($1.56 billion) for the third quarter, slightly ahead of expectations as strong results in its consumer and credit card businesses compensated for weakening investment bank revenues.

Analysts polled by Reuters had produced a consensus forecast of £1.18 billion, down from £1.33 billion in the second quarter.

The British lender warned in July that it expected to earn less interest in its U.K division.

This is a breaking news story and will be updated shortly.



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