Manulife reports $1.1 billion in Q1 earnings, up from $485 million last year
Asia core earnings rose 22% to US$598 million as Manulife’s first-quarter profit climbed to $1.1 billion, the insurer said.
- On Wednesday, Manulife Financial Corp reported $1.1 billion in net income attributable to shareholders during the first quarter, up from $485 million in the prior-year period.
- Strong performance in the Asia unit drove results, with core earnings jumping 22 per cent to $598 million and new business value growing 15 per cent.
- Profit attributable to shareholders in Canada units rose 7 per cent, while earnings per share increased to 65 cents from 25 cents in the prior-year quarter.
- Shares of the insurer have gained about 9.6 per cent year-to-date, compared with the 13.2 per cent gain reported by smaller peer Sun Life following last week's earnings announcement.
- Total core earnings reached $1.84 billion, or $1.06 per share, for the three months ended March 31, reflecting strong contributions across the company's segments.
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Manulife Financial Corporation announced on Wednesday a net income attributable to shareholders of $1.1 billion in the first quarter, compared to $485 million in the same period last year.
The Toronto Star
Manulife reports $1.1 billion in Q1 earnings, up from $485 million last year
TORONTO - Manulife Financial Corp. reported $1.1 billion in net income attributable to shareholders during the first quarter, compared with $485 million during the same period last year.
Manulife Financial Corporation Stock Slides Nearly 6% After Q1 Earnings Miss Despite Asia Jump
Manulife reported first-quarter core earnings of C$1.84 billion, up 8% on a constant-currency basis, but U.S.-listed shares fell about 6% after core EPS missed estimates. Net income attributable to shareholders more than doubled to C$1.15 billion. Asia core earnings rose 22%, while Canada and U.S. results weakened and Global Wealth and Asset Management saw C$4.4 billion in net outflows. The post Manulife Financial Corporation Stock Slides Nearly…
This corresponds to a profit per share of 65 cents for the period ended March 31. The post Manulife announces a profit of $1.1 billion at 1T appeared first on Les Affaires.
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