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Bank of Nova Scotia: Fiscal 2Q Earnings Snapshot

Bank of Nova Scotia: Fiscal 2Q Earnings Snapshot

Associated Press

TORONTO (AP) _ Bank of Nova Scotia (BNS) on Tuesday reported fiscal second-quarter profit of $1.65 billion.

The bank, based in Toronto, said it had earnings of $1.30 per share. Earnings, adjusted for non-recurring gains, were $1.28 per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The bank posted revenue of $8.81 billion in the period. Its revenue net of interest expense was $5.87 billion, which topped Street forecasts.

Bank of Nova Scotia shares have risen slightly more than 5% since the beginning of the year. The stock has dropped 15% 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 BNS at https://www.zacks.com/ap/BNS