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Bank of Nova Scotia Q3 Earnings Surpass Estimates on Strong Revenue Growth
Bank of Nova Scotia Q3 Earnings Surpass Estimates on Strong Revenue Growth
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The Bank of Nova Scotia (BNS) delivered a robust third-quarter performance, with net income surging to $2.53 billion from $1.91 billion year-over-year. Earnings per share (EPS) reached $1.84, outperforming analyst expectations of $1.73. Adjusted EPS ROSE 15% to $1.88, while revenue climbed 13.4% to $9.49 billion, exceeding forecasts of $9.3 billion.
Shares rallied 5.01% to $60.19 during midday trading as CEO Scott Thomson highlighted the bank's balance sheet strength and share repurchases. Canadian Banking adjusted earnings rose 56% sequentially but dipped 2% annually due to higher expenses and credit provisions. International operations showed mixed results, with growth in some markets offset by macroeconomic headwinds.
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