Bank Of Nova Scotia Q2: Earnings Miss, Higher Provision For Credit Losses & More
Portfolio Pulse from Lekha Gupta
Bank of Nova Scotia (BNS) reported Q2 FY23 adjusted EPS of $1.26, missing the Street view of $1.31. Revenue remained flat Y/Y at $5.865 billion, missing the consensus of $5.99 billion. The bank increased its quarterly dividend per share by C$0.03 to C$1.06.
May 24, 2023 | 2:37 pm
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Bank of Nova Scotia's Q2 FY23 adjusted EPS and revenue missed estimates, while the bank increased its quarterly dividend per share. BNS shares are trading lower by 1.52%.
Bank of Nova Scotia's Q2 FY23 earnings and revenue missed estimates, which could negatively impact investor sentiment and lead to a decline in the stock price. The bank increased its quarterly dividend per share, which may provide some support to the stock. However, the overall impact is likely to be negative in the short term, as evidenced by the 1.52% decline in BNS shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100