TORONTO (AP) — TORONTO (AP) — Bank of Nova Scotia (BNS) on Tuesday reported fiscal second-quarter profit of $1.38 billion.
The Toronto-based bank said it had earnings of $1.03 per share. Earnings, adjusted for non-recurring costs, came to $1.06 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The bank posted revenue of $12.61 billion in the period. Its revenue net of interest expense was $6.32 billion, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $6.55 billion.
Bank of Nova Scotia shares have dropped roughly 3% since the beginning of the year. The stock has increased 9% 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
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