HSBC Holdings reported strong first quarterly earnings for 2024, surpassing analyst revenue expectations with $20.8 billion.

The company announced dividends totalling $0.31 per ADR following the sale of Canadian assets.

A new $3 billion stock repurchase program was unveiled by HSBC.

HSBC's U.S.-listed ADRs saw a 3.3% increase after the earnings report, despite a decrease in net income from the previous year.

The bank is continuing its strategic focus on Asia, having sold operations in Argentina and Canada.

HSBC is in the process of selecting a new CEO, with CFO Georges Elhedery as a potential successor.

The Motley Fool Stock Advisor did not list HSBC among the top 10 recommended stocks for investors.