2/13/2020, 7:03 AM (Source: TeleTrader)
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Credit Suisse EPS at 0.33 Swiss francs in Q4

Credit Suisse AG announced on Thursday that its diluted earnings per share stood at $0.33 in the fourth quarter of fiscal 2019, meeting the estimates. The bank's revenue reached 6.19 billion Swiss francs in the same quarter, growing 29% on an annual basis, while its net income attributable to shareholders amounted to 852 million Swiss francs, rocketing 229% year-over-year. Meanwhile, the company's operating expenses jumped 17% annually to 4.83 billion Swiss francs.

For the whole year 2019, the Swiss bank's revenue landed at 22.48 billion Swiss francs, increasing 7% compared to 2018, while diluted EPS soared 71% to 1.32 Swiss francs. Net income attributable to shareholders came in at 3.42 billion Swiss francs, marking a jump of 69%. Meanwhile, operating expenses grew 1% to 17.44 billion Swiss francs last year compared to the year prior.

"We began 2019 in a challenging market environment, with muted client activity in the first quarter. As the environment became more constructive in the second and third quarters, we were able to progressively improve revenue momentum and flexed our cost base accordingly to capture growth opportunities, finishing the year with a strong fourth quarter," the bank's CEO Tidjane Thiam said in a statement.

Credit Suisse stocks went up by more than 1% in premarket as the results were unveiled.

Breaking the News / GA