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Manulife: 1Q Earnings Snapshot

TORONTO (AP) _ Manulife Financial Corp. (MFC) on Wednesday reported first-quarter profit of $1.64 billion.

On a per-share basis, the Toronto-based company said it had net income of 81 cents. Earnings, adjusted for non-recurring gains, were 57 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The financial services company posted revenue of $17.71 billion in the period.

Manulife shares have risen 29% since the beginning of the year. The stock has dropped almost 3% in the last 12 months.


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