A logo outside a Societe Generale SA bank branch in Paris, France.
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LONDON — French bank Societe Generale reported net income that beat analyst expectations for the first quarter of 2021, getting a boost from a strong performance in its global markets division.
Net income for the first quarter came in at 814 million euros ($977 million), the lender said Thursday. Analysts were expecting a net income of 204 million euros.
The company also surprised markets at the end of the four quarter with a net income of 470 million euros, and well above the 252 million euros estimated by analysts ahead of the results.
The stock is up nearly 40% year-to-date.
This is a breaking news story and will be updated shortly.
Brian Viner is the Editor-in-Chief for Call Centre News Fior Reports. Viner cover Business and Commodities news. Prior to joining Call Centre News Fior Reports, he was a columnist on The Independent. Besides being a hardcore reporter, he is the author of seven books – all non-fiction. Viner is married to the novelist Jane Sanderson; the couple has three children.