Barclays Q3 profit rises 12%, announces $670 million buyback
BCS•Barclays said third-quarter pretax profit rose 12% to £2.3 billion from £2.1 billion a year earlier, against analysts’ average forecast of £2.4 billion. The bank announced a £500 million ($669.85 million) share buyback.
1. Profit and buyback
Barclays said its third-quarter profit rose 12%, with pretax profit for July to September reaching £2.3 billion, up from £2.1 billion a year earlier. The result was just below analysts’ average forecast of £2.4 billion. Growing income and stable costs allowed the bank to announce a £500 million ($669.85 million) share buyback.
