US Markets
MFC

Canada's Manulife beats expectations, posts core profit rise helped by market recovery

Manulife Financial Corp on Wednesday comfortably beat analyst estimates for second-quarter core profit, which rose from a year earlier due in part to favourable market impacts.

TORONTO, Aug 5 (Reuters) - Manulife Financial Corp MFC.TO on Wednesday comfortably beat analyst estimates for second-quarter core profit, which rose from a year earlier due in part to favourable market impacts.

Underlying profit rose to C$1.6 billion ($1.21 billion), or 78 Canadian cents a share, from C$1.45 billion, or 72 cents, a year earlier. That compared with expectations of 62 Canadian cents.

But reported net income attributed to shareholders fell to C$727 million, or 35 Canadian cents, from C$1.48 billion, or 73 cents, a year earlier. For details

($1 = 1.3264 Canadian dollars)

(Reporting by Nichola Saminather in Toronto Editing by Matthew Lewis)

((Nichola.Saminather@thomsonreuters.com; +1-416-687-7604;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MFC

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More