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Manulife: 3Q Earnings Snapshot

·1 min read

TORONTO (AP) _ Manulife Financial Corp. (MFC) on Wednesday reported third-quarter net income of $1.55 billion.

The Toronto-based company said it had net income of 78 cents per share. Earnings, adjusted for non-recurring gains, were 55 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The financial services company posted revenue of $10.04 billion in the period.

Manulife shares have decreased 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.41, a drop of 17% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MFC at https://www.zacks.com/ap/MFC