## Barclays Beats Expectations, Announces Buyback
Here’s a quick rundown of the latest news from Barclays:
- Strong Profits: Barclays exceeded profit expectations in the second quarter, reporting a pre-tax profit of £2.5 billion, beating the forecast of £2.23 billion.
- Revenue Meets Expectations: Group revenues aligned with analyst projections, reaching £7.2 billion.
- Share Buyback: The bank announced a £1 billion share buyback program.
- Investment Banking Boost: The investment banking unit saw a 10% year-on-year increase in income, reaching £3.3 billion, driven by market volatility.
- Cost Cutting Measures: Barclays is continuing cost-cutting efforts, including potential job cuts and consulting with McKinsey.
- US Market Challenges: The bank faces potential increased competition in the US debt markets due to changes in capital leverage rules.
- UK Market Dynamics: Barclays is navigating a changing UK banking landscape, with Santander’s increased presence and potential strategic shifts from NatWest.
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Source: https://www.cnbc.com/2025/07/29/barclays-q2-earnings-2025.html