The Bank Of Nova Scotia (NYSE:BNS) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
The Bank Of Nova Scotia Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.08% to $1.24 in the quarter versus EPS of $1.18 in the year-earlier quarter.
Revenue: Decreased 20.85% to $5.22 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Bank Of Nova Scotia reported adjusted EPS income of $1.24 per share. By that measure, the company missed the mean analyst estimate of $1.26. It beat the average revenue estimate of $5.18 billion.
Quoting Management: “We continue to have very strong results this quarter driven by very good revenue growth. Each business line made a solid contribution to these good results” said Rick Waugh , Scotiabank CEO. “Our diversification and straightforward business model have allowed us to take advantage of opportunities to grow. Our diverse team working together across our broad-based business provides seamless and complete solutions to our customers, which contributed to the solid results in the first half of this year.”
Key Stats (on next page)…