Toronto-Dominion Bank (TD) Stock Pops on Q3 Earnings Beat

TD saw strong growth in the U.S. and Canada in Q3

Toronto-Dominion Bank (NYSE:TD) stock was up on Friday following the release of its fiscal third quarter earnings report for 2017.

During its fiscal third quarter of the year, Toronto-Dominion Bank reported earnings per share of $1.21. This comes in above its earnings per share of $1.03 from the same time last year. It was also good news for TD stock as it beat out Wall Street’s earnings per share estimate of $1.09 for the quarter.

Toronto-Dominion Bank also reported revenue of $7.50 billion in its fiscal third quarter of 2017. This is an increase over the company’s revenue of $7.03 billion from the second fiscal quarter of 2017. It also came in above analysts’ revenue estimate of $7.06 billion for the quarter.

Net income reported by Toronto-Dominion Bank in its fiscal third quarter of 2017 was $2.24 billion. This is better than the $1.91 billion in net income that it reported in the same period of the year prior.

Toronto-Dominion Bank also pointed out that it saw strong growth in retail net income in the United States and Canada when compared to the same time last year. This includes Canada retail net income increasing by 14% and U.S. retail net income going up by 11%.

Toronto-Dominion Bank also recently announced its dividend for investors. The dividend will have the company paying shareholders roughly 48 cents for each share of TD stock that they own. This dividend will be payable on Oct. 31, 2017 to investors on record as of Oct. 6, 2017.

TD stock was up 1% as of noon Friday and also saw significant gains on Thursday. The stock is up 10% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/09/toronto-dominion-bank-td-stock/.

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