TORONTO (AP) _ Manulife Financial Corp. (MFC) on Wednesday reported fourth-quarter profit of $1.37 billion.
On a per-share basis, the Toronto-based company said it had profit of 69 cents. Earnings, adjusted for non-recurring gains, were 57 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The financial services company posted revenue of $13.71 billion in the period.
For the year, the company reported profit of $4.38 billion, or $2.19 per share. Revenue was reported as $58.91 billion.
Manulife shares have climbed almost 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.35, a decline of roughly 3% in the last 12 months.