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Strong U.S. results lift TD Bank earnings

Aug. 25, 2016 9:24 AM ETThe Toronto-Dominion Bank (TD) Stock, TD:CA StockTDBy: Stephen Alpher, SA News Editor
  • FQ3 adjusted net income of C$2.416B or C$1.24 per share vs. C$2.285B and C$1.20 one year ago.
  • Canadian Retail net income of $1.5B vs. $1.6B a year ago, with a 3% revenue gain more than offset by higher insurance claims thanks to the Fort McMurray wildfire.
  • U.S. Retail net income of $788M up from an adjusted $650M a year ago. Excluding investment in Ameritrade, net income of $663M up 19% Y/Y. Ameritrade contributed $125M, up 36% Y/Y.
  • Wholesale banking net income of $302M up 26% Y/Y.
  • Provisions of $556M or 0.38% of total loans down from $584M and $0.42 a quarter earlier.
  • Previously: Toronto-Dominion Bank beats by C$0.06, beats on revenue (Aug. 25)
  • TD flat premarket

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