TD Bank Group reported a third-quarter net income of $3.21 billion, down from $3.55 billion a year ago.
The bank says the profit amounted to $1.75 per diluted share for the quarter ended July 31, down from $1.92 per diluted share in the same quarter last year.
Revenue for the three-month period totalled $10.93 billion, up from $10.71 billion.
Provisions for credit losses amounted to $351 million in TD’s latest quarter compared with a $37-million recovery of credit losses a year ago.
On an adjusted basis, TD says it earned $2.09 per diluted share in its third quarter, up from an adjusted profit of $1.96 per diluted share in the same quarter last year.
Analysts on average had expected an adjusted profit of $2.04 per diluted share, according to financial markets data firm Refinitiv.
Read the full article here