Yahoo Finance Bank of Montreal Second Quarter 2024 Earnings: Misses Expectations
Bank of Montreal (TSE:BMO) Second Quarter 2024 Results
Key Financial Results
Revenue: CA$7.27b (up 7.4% from 2Q 2023).
Net income: CA$1.72b (up 91% from 2Q 2023).
Profit margin: 24% (up from 13% in 2Q 2023). The increase in margin was primarily driven by higher revenue.
EPS: CA$2.36 (up from CA$1.26 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Bank of Montreal Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 8.5%.
Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Banks industry in Canada.
Performance of the Canadian Banks industry.
The company's shares are down 8.2% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 1 warning sign for Bank of Montreal you should know about.
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