(Corrects to remove “higher revenue” from headline)
May 27 (Reuters) - Toronto-Dominion Bank beat analysts’ estimates for quarterly profit on Thursday, driven by higher revenue from fees and as it released some reserves set aside to cover loan losses.
Net earnings excluding one-off items rose to C$3.78 billion ($3.12 billion), or C$2.04 Canadian cents a share, compared with C$1.6 billion, or 85 Canadian cents, a year earlier. Analysts had expected a profit of C$1.76 per share, according to IBES data from Refinitiv.
Canada’s second-largest lender reported overall net profit of C$3.7 billion for the three months ended April 30, or C$1.99 a share, up from C$1.52 billion or 80 Canadian cents, a year ago.
$1 = 1.2110 Canadian dollars Reporting by Nichola Saminather and Niket Nishant; Editing by Vinay Dwivedi