Manulife Financial reported Q2 core earnings per share of $0.78, exceeding analyst expectations of $1.08 CAD.
Manulife Financial (MFC) reported second-quarter core earnings per share of C$1.09 (US$0.78), surpassing the average analyst estimate of C$1.08. The result marked an improvement from prior periods, with its wealth and asset management (WAM) unit achieving net inflows.
Despite the earnings beat, the company’s stock fell 3.6% in after-hours trading on Wednesday. Analysts had anticipated a modest gain, but market reaction suggests investor concerns over broader performance or outlook.
The WAM unit’s shift to net inflows provided a bright spot, contrasting with prior quarterly outflows that had weighed on results.