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Bank of Montreal (NYSE:BMO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Bank of Montreal Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.04% to $1.52 in the quarter versus EPS of $1.42 in the year-earlier quarter.
Revenue: Decreased 22.85% to $4.08 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bank of Montreal reported adjusted EPS income of $1.52 per share. By that measure, the company beat the mean analyst estimate of $1.46. It beat the average revenue estimate of $3.97 billion.
Quoting Management: “BMO had a strong first quarter, with momentum in each of our businesses and a strong capital position. Looking ahead, we are well-positioned to leverage our North American platform and deliver sustained earnings growth,” said Bill Downe, President and Chief Executive Officer, BMO Financial Group. “Adjusted net income was over $1 billion for the third consecutive quarter.”
Key Stats (on next page)…
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