Canadian Bank TD Slides After Q3 Results
Portfolio Pulse from Akanksha Bakshi
Toronto-Dominion Bank (TD) reported Q3 FY23 earnings of C$3 billion, down 8% YoY, and adjusted earnings of C$3.7 billion, down 2% YoY. Total revenue grew 17% YoY to C$12.78 billion. The bank also announced a dividend per share of C$0.96 and plans to launch a new normal course issuer bid to repurchase up to 90 million of its common shares. TD shares are trading lower by 1.98% at $60.31.
August 24, 2023 | 1:57 pm
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TD's Q3 FY23 earnings are down 8% YoY, but total revenue grew 17% YoY. The bank plans to repurchase up to 90 million shares. TD shares are trading lower by 1.98% at $60.31.
TD's Q3 earnings are down YoY, which is likely contributing to the decrease in share price. However, the bank's total revenue has grown and it plans to repurchase shares, which could potentially offset some of the negative impact on the stock price in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100