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 12.75% to $1.68 in the quarter versus EPS of $1.49 in the year-earlier quarter.
Revenue: Decreased 20.45% to $4.05 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bank of Montreal reported adjusted EPS income of $1.68 per share. By that measure, the company beat the mean analyst estimate of $1.53. It beat the average revenue estimate of $4 billion.
Quoting Management: “BMO’s third quarter results confirm the strength of the bank’s performance to date in 2013 and reflect the benefits of our disciplined growth strategy, which is well diversified by geography and business mix,” said Bill Downe, President and Chief Executive Officer, BMO Financial Group. “Operating results are underpinned by the successful execution of well-established strategies across all our businesses.
Key Stats (on next page)…