Manulife reports $1.6-billion drop in earnings amid market turmoil and extended COVID-19 restrictions in Asia [Globe and Mail, The (Toronto, Canada)]
Manulife Financial Corporation (MFC)
Last manulife financial corporation earnings: 2/12 05:00 pm
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Source: Globe and Mail, The
decrease missed analyst profit expectations as it saw a $1.6-billion drop in earnings due to market turmoil and extended COVID-19 restrictions in Asia. Manulife, Canada's largest insurer, reported second-quarter net income of $1.09-billion, or 53 cents per share, a $1.6-billion drop from the $2.64-billion, or $1.33 per share it reported in 2021's second quarter. Analysts had forecast net income of $1.47-billion or 76 cents per share, according to financial markets data firm Eikon. During an analyst call on Thursday, Manulife CEO Roy Gori said while net income for the quarter was negatively impacted by market volatility this year, the company delivered net income of $4.1-billion in the first half of the year – $600-million more than the same period a year prior. “We continue to operate in an increasingly complex and challenging environment,” Mr. Gori said. “A combination of lingering pandemic effects in most of Asia, elevated inflation, uncertain macroeconomic and geopolitical
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MFC
Earnings
- 2/14/24 - Beat
MFC
Sec Filings
- 4/25/24 - Form 6-K
- 3/25/24 - Form 6-K
- 3/22/24 - Form 6-K
- MFC's page on the SEC website