Bank of Nova Scotia: Fiscal Q1 Earnings Snapshot

TORONTO (AP) — TORONTO (AP) — Bank of Nova Scotia (BNS) on Tuesday reported fiscal first-quarter profit of $1.61 billion.

The Toronto-based bank said it had earnings of $1.24 per share. Earnings, adjusted for non-recurring costs, were $1.25 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.

The bank posted revenue of $14.13 billion in the period. Its revenue net of interest expense was $6.24 billion, also topping Street forecasts.

Bank of Nova Scotia shares have decreased roughly 3% since the beginning of the year. The stock has decreased roughly 10% 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 BNS at https://www.zacks.com/ap/BNS