Bank of Montreal posts profit of $919.8 million in 4th quarter

Bank of Montreal posts profit of $919.8 million in 4th quarter

TORONTO (AP) – Bank Of Montreal (BMO) on Tuesday reported fiscal fourth-quarter net income of $919.8 million.

The bank, based in Toronto, said it had earnings of $1.39 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.44 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.

The bank posted revenue of $3.77 billion in the period.

For the year, the company reported profit of $3.34 billion, or $4.98 per share. Revenue was reported as $14.69 billion.

Bank of Montreal shares have dropped 19 per cent since the beginning of the year. The stock has dropped 22 per cent in the last 12 months.

The Associated Press

Categories: Business

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