BMO Financial Group Q3 Profit Beats Estimates; Revenue Up 10%

(RTTNews) - BMO Financial Group (BMO.TO, BMO) said it recorded strong pre-provision pre-tax earnings of C$2.9 billion for the third quarter, up 12% year-over-year, driven by revenue growth of 10%. The Group said operating momentum across its diversified businesses continues to drive strong financial performance.

Third-quarter adjusted earnings per share was C$3.44, up 86% from last year. On average, 10 analysts polled by Thomson Reuters expected the company to report profit per share of C$2.93, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter net revenue increased to C$6.58 billion from C$6.00 billion, last year. Analysts expected revenue of C$6.30 billion, for the quarter.

BMO also announced a fourth-quarter dividend of C$1.06 per common share, unchanged from the prior quarter and the prior year.