06:15 AM EST, 02/19/2025 (MT Newswires) -- HSBC Holdings ( HSBC ) reported 2024 earnings Wednesday of $1.24 per diluted share, up from $1.14 a year earlier.

Analysts polled by FactSet expected EPS - IFRS of $1.24.

Revenue for the year ended Dec. 31 was $65.85 billion, down from $66.06 billion a year earlier. Analysts surveyed by FactSet expected $66.09 billion.

The company's board approved an interim dividend to $0.36 per share, bringing the total dividend per share in 2024 to $0.87. The company also plans to launch a $2 billion share repurchase program, with the buyback planned to be completed by the end of Q1.

Separately, the company said it aims to cut expenses by $300 million in 2025 as part of ongoing reorganization efforts, with an annualized reduction of $1.5 billion by the end of 2026. The bank expects to incur $1.8 billion in severance and other upfront costs over 2025 and 2026.