Manulife Financial Q1 Adj EPS $0.70 Beats $0.67 Estimate, Sales $1.39B Miss $1.47B Estimate
Portfolio Pulse from Benzinga Newsdesk
Manulife Financial (NYSE:MFC) reported Q1 adjusted EPS of $0.70, surpassing the $0.67 estimate, marking a 20.69% year-over-year increase. However, its quarterly sales of $1.39B fell short of the $1.47B estimate, a 46.46% decrease from the previous year.
May 09, 2024 | 2:52 pm
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Manulife Financial reported a Q1 adjusted EPS of $0.70, beating estimates, but sales of $1.39B missed expectations and showed a significant year-over-year decline.
The mixed results with an earnings beat but a miss on revenue forecasts could lead to neutral market sentiment in the short term. The significant decrease in sales year-over-year might concern investors, but the earnings beat indicates operational efficiency or cost management that could offset negative perceptions.
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