February 28, 2017 / 12:00 PM / 6 months ago

Bank of Montreal first quarter earnings beat market expectations

TORONTO, Feb 28 (Reuters) - Bank of Montreal, Canada's fourth-biggest lender, on Tuesday reported first-quarter earnings which were well ahead of market expectations benefiting from strong performances across all of its businesses.

Net income for the first quarter to Jan. 31 was C$1.49 billion, or C$2.22 per share, compared with C$1.07 billion, or C$1.58 per share a year before.

Excluding one-off items, earnings were C$2.28 per share, compared with C$1.75 a year earlier. Analysts had on average expected earnings, before one-off items, of C$1.88 per share, according to Thomson Reuters I/B/E/S. (Reporting by Matt Scuffham; Editing by Keith Weir)

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