Barclays profits plummet following debt sale mistake and trading slump

LONDON — Barclays PLC said its net profit fell in the first quarter, due to a sale of debt and lower trading levels.

The London-based lender said on Thursday it earned £1.4bn, or $1.8bn, in the three months to the end of March, compared to £1.7bn in the same period the last year. Analysts had expected the bank to post a profit of £1.55 billion for the quarter. Revenue increased by 10% to £6.5 billion.


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