The Toronto-Dominion Bank Group (TD, TD.TO) posted higher first-quarter net income of C$1.79 billion, or C$1.86 per share on a reported basis, compared with last year's C$1.48 billion, or C$1.55 per share, reflecting the strong performance of TD's retail businesses.
The latest reported earnings figures included amortization of intangibles of $56 million after tax; a gain of $24 million after tax; integration charges and direct transaction costs of $24 million after tax; as well as a litigation reserve of $70 million after tax, according to the company.
Adjusted net income for the period stood at C$1.92 billion, or C$2.00 per share. On average, 15 analysts polled by Thomson Reuters expected earnings per share of C$1.92 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly total revenue was C$5.97 billion, up from the prior year figure of C$5.64 billion. Analysts estimated revenues of C$6.01 billion for the quarter.
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