AP NEWS

Bank of Montreal: Fiscal 1Q Earnings Snapshot

February 25, 2020 GMT

TORONTO (AP) _ Bank Of Montreal (BMO) on Tuesday reported fiscal first-quarter earnings of $1.21 billion.

The Toronto-based bank said it had earnings of $1.80 per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to $1.83 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.

The bank posted revenue of $7.5 billion in the period. Its revenue net of interest expense was $5.13 billion, also surpassing Street forecasts.

Bank of Montreal shares have declined slightly more than 3% since the beginning of the year. The stock has decreased slightly in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BMO at https://www.zacks.com/ap/BMO