April 18th, 2024

TD Bank Group reports $2.82B first-quarter profit, revenue up

By The Canadian Press on February 29, 2024.

A person walks past a TD Bank sign in the financial district in Toronto on Tuesday, Sept. 20, 2022. THE CANADIAN PRESS/Alex Lupul

TORONTO – TD Bank Group reported a first-quarter profit of $2.82 billion, up from $1.58 billion a year earlier, as its revenue also climbed higher.

The bank says the profit amounted to $1.55 per diluted share for the quarter ended Jan. 31, up from a profit of 82 cents per diluted share in the same quarter last year.

Revenue totalled $13.71 billion, up from $12.20 billion.

TD’s provisions for credit losses for the quarter amounted to $1.00 billion, up from $690 million a year earlier.

On an adjusted basis, TD says it earned $2.00 per diluted share, down from an adjusted profit of $2.23 per diluted share in its first quarter last year.

Analysts on average had expected a profit of $1.89 per share, according to estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published Feb. 29, 2024.

Companies in this story: (TSX:TD)

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