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May 27, 2022

TD Bank Group Reports $3.8B Q2 Profit, Up From $3.7B A Year Ago

TD Bank Group reported its second-quarter net income totalled $3.81 billion, up from $3.70 billion in the same quarter last year.

The bank says the profit for the quarter ended April 30 totalled $2.07 per diluted share, up from $1.99 per diluted share a year ago.

Revenue in the quarter totalled $11.26 billion, up from $10.23 billion in the same quarter last year.

The results came as TD reported a provision for credit losses of $27 million for the quarter compared with a $377-million recovery of credit losses a year ago.

On an adjusted basis, TD says it earned $2.02 per diluted share, down from an adjusted profit of $2.04 per diluted share in the same quarter last year.

Analysts on average had expected an adjusted profit of $1.93 per share, according to estimates compiled by financial markets data firm Refinitiv.

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