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Toronto-Dominion Bank posts fourth-quarter profit of $1.38 billion

TORONTO – TORONTO (AP) _ The Toronto-Dominion Bank (TD) on Thursday reported fiscal fourth-quarter profit of $1.38 billion.

The bank, based in Toronto, said it had earnings of 73 cents per share. Earnings, adjusted for one-time gains and costs, came to 87 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The retail and wholesale bank posted revenue of $6.12 billion in the period.

For the year, the company reported profit of $6.38 billion, or $3.40 per share. Revenue was reported as $25.32 billion.

Toronto-Dominion shares have dropped 14 per cent since the beginning of the year. The stock has decreased 17 per cent in the last 12 months.

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

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Keywords: Toronto-Dominion Bank, Earnings Report