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TD Bank crushes Q1 expectations with $4.04B profit surge

A stunning profit leap and shrinking credit losses reveal TD Bank's resilience. Why this Canadian giant is outpacing Wall Street's predictions—again.

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1 min read
The image shows a bar chart depicting the quarterly U.S. bank earnings from 2004 to the present....
The image shows a bar chart depicting the quarterly U.S. bank earnings from 2004 to the present. The chart is composed of several bars of varying heights, each representing a different year, with the height of each bar indicating the amount of earnings. The text at the top of the chart reads "Quarterly U. S. Bank Earnings 2004 - Present".

TD Bank crushes Q1 expectations with $4.04B profit surge

TD Bank Group has announced strong financial results for its first quarter. The bank reported a profit of $4.04 billion, beating market expectations. Earnings per share also rose significantly compared to the same period last year.

The bank's revenue reached $16.59 billion, up from $14.05 billion in the previous year. This growth contributed to a higher profit per diluted share, which climbed to $2.34 from $1.55.

On an adjusted basis, earnings came in at $2.44 per share, exceeding analyst forecasts of $2.26. This figure also marked an increase from $2.02 per share a year earlier.

TD's provision for credit losses fell to $1.04 billion, down from $1.21 billion in the same quarter last year. The reduction suggests improved credit conditions for the bank.

The results show a clear rise in both revenue and earnings per share. Analysts had predicted lower figures, but TD outperformed expectations. The bank's financial position appears stronger as it moves into the next quarter.

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