FX.co ★ Societe Generale Q1 Profit Declines, Revenues Nearly Stable

Societe Generale S.A., a French financial services provider, announced a 21.7% drop in its first-quarter Group net income, falling to 680 million euros from the previous year's 868 million euros. The earnings per share were reported to be 0.64 euro. The adjusted Group net income for the first quarter stood at 514 million euros.

The company also reported an 11.7% decrease in operating income, falling to 1.27 billion euros from the previous year's 1.43 billion euros. As for its quarterly revenues, measured as net banking income, there was a slight dip of 0.4%, declining to 6.65 billion euros from last year's 6.67 billion euros. When evaluated at constant currency rates, the net banking income experienced a fall of 4.8%.