HONG KONG, May 4 (Reuters) - HSBC Holdings Plc on
Thursday reported a 19 percent fall in first quarter profit, as
Europe's biggest bank battles to restore flagging revenues
following its restructuring.
HSBC said pretax profit for the first three months of the
year fell to $4.96 billion, down from $6.11 billion a year ago
and better than the $4.31 billion average of analysts' estimates
compiled by the bank.
The bank said reported profit was down mainly due to a
change in the accounting treatment of the fair value on its own
debt. Also, the year-ago profit included the operating results
of the Brazil business that it sold in July 2016, it said.
(Reporting by Sumeet Chatterjee and Lawrence White; Editing by