TD Bank beats analyst expectations as it reports $2.53 billion of net income

TD Bank tops estimates with $2.5B of earnings

TORONTO — TD Bank beat analyst expectations Thursday as it reported $2.53 billion of net income during the first quarter, up 13.9 per cent from $2.22 billion a year ago.

The earnings amounted to $1.32 per diluted share (TSX:TD), compared with $1.17 per diluted share during the first quarter of last year.

After adjustments, the bank had $1.33 of earnings per diluted share — better than the $1.27 that analyst estimated, according to data compiled by Thomson Reuters.

“We are pleased with our start to 2017,” president and CEO Bharat Masrani said in a statement.

“Our focus on organic growth, combined with favourable market conditions this quarter led to strong results in our retail and wholesale business segments on both sides of the border.”

Adjusted net income was $2.56 billion during the quarter, compared with $2.25 billion a year earlier.

TD also reported $9.12 billion of revenue during the quarter, up from $8.61 billion a year ago.

The bank says its quarterly dividend will rise by five cents to 60 cents per share, payable on May 1.

TD also announced plans to return capital to shareholders by buying back 15 million of its common shares.


Follow @alexposadzki on Twitter.

The Canadian Press

Just Posted

Start to finish: Okanagan Sun conclude regular season this weekend

The Sun visit the Westshore Rebels in the final game of the season on Sunday

RDCO to host Repair Café to help Kelowna residents fix household items

‘If you can carry it in under your arm, they’ll do their best to tackle the problem, with your help’

Kelowna Sally Ann extends helping hand to thief who stole shed

‘If you find yourself in a place of need, come talk to us, we are here to help’

ALC prohibits land exemption status for three Westbank school sites

The decision means a new secondary school won’t be built along Webber Road

West Kelowna gets more firefighting power

10 new recruits have officially been placed on the city’s roster

Scheer, Trudeau, Singh haggle over potential minority government outcome

If you believe the polls, it appears the Liberals and Conservatives are neck-and-neck

Canucks beat Stanley Cup champs 4-3 in a shootout

Leivo nets winner, Vancouver dumps St. Louis for fourth straight win

‘The more you test, the more you find’: Beef recalls a sign of success, experts say

Despite appearances, experts say a recent rise in major recalls is not a sign of food supply problems

VIDEO: Meet your Kelowna-Lake Country candidates

All seven Kelowna-Lake Country candidates answer questions about themselves and their policy

VIDEO: Meet your Central Okanagan-Similkameen-Nicola candidates

Central Okanagan-Similkameen-Nicola candidates answer questions about themselves and their policy

One year later: Vernon pot stores look back at legalization

Edibles made legal on first anniversary of recreational cannabis

Memorial remembers North Okanagan’s most marginalized

Prayers and flowers for those who have died on the streets

Japanese buyer expands wood pellet contract with B.C.’s Pinnacle

Mitsui and Co. increases contract with Interior energy producer

Great Vernon Pumpkin Race to star in South Korean documentary

Pumpkin Classic event to kick off this weekend with gourd weigh-ins

Most Read