TD Bank reports Q4 profit rises to $2.71B, up from $2.30B a year ago

TORONTO - TD Bank says it earned $2.71 billion in its latest quarter, up from $2.30 billion a year ago, boosted by its Canadian and U.S. retail banking business.

The bank (TSX:TD) says the profit amounted to $1.42 per diluted share for the quarter ended Oct. 31, up from $1.20 per diluted share in the same quarter last year.

Revenue for what was the bank's fourth quarter totalled $9.27 billion, up from $8.75 billion.

On an adjusted basis, TD says it earned $1.36 per diluted share, compared with $1.22 per diluted share a year ago.

Analysts had expected an adjusted profit of $1.39 per diluted share, according to Thomson Reuters.

For its full financial year, TD says it earned $10.52 billion or $5.50 per diluted share on $36.15 billion in revenue. That compared with a profit of $8.94 billion or $4.67 per diluted share on $34.32 billion in revenue a year earlier.

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