Wires

BRIEF-HSBC Posts Qtrly Reported Profit Before Tax Of $4,837 Million

Oct 28 (Reuters) - HSBC HOLDINGS PLC:

* QTRLY REPORTED PROFIT BEFORE TAX $4,837 MILLION VERSUS $5,922 MILLION

* QTRLY ADJUSTED PROFIT BEFORE TAX $ 5,348 MILLION VERSUS $ 6,092 MILLION

* Q3 REPORTED REVENUE DOWN 3% TO $13.4BN, DUE TO LOWER CLIENT

* QTRLY ADJUSTED REVENUE $13,267 MILLION VERSUS $13,486 MILLION

* ACTIVITY IN GLOBAL MARKETS, COMPARED WITH A STRONG 3Q18

* NO LONGER EXPECT TO REACH ROTE TARGET OF MORE THAN 11% IN 2020

* REVENUE ENVIRONMENT MORE CHALLENGING THAN IN H 2019, AND OUTLOOK FOR REVENUE GROWTH IS SOFTER THAN WE ANTICIPATED AT HALF-YEAR

* HSBC SAYS TO "REBALANCE CAPITAL AWAY FROM LOW-RETURN BUSINESSES" AND ADJUST COST BASE

* CONTINUING DETERIORATION IN REVENUE ENVIRONMENT COULD RESULT IN SIGNIFICANT CHARGES IN 4Q19

* QTRLY ADJUSTED OPERATING EXPENSES $7,548 MILLION VERSUS $7,487 MILLION

* ACCELERATING PLANS TO REMODEL BUSINESSES WHOSE PERFORMANCE WAS NOT ACCEPTABLE, AND MOVE CAPITAL INTO HIGHER GROWTH AND RETURN OPPORTUNITIES Source text for Eikon: Further company coverage: