Breaking
Sun Life posts 4Q profit of $419.6 million, result tops expectations
Sun Life Financial Inc. logo
TORONTO (AP) – Sun Life Financial Inc. (SLF) on Wednesday reported fourth-quarter profit of $419.6 million.
On a per-share basis, the Toronto-based company said it had profit of 65 cents. Earnings, adjusted for one-time gains and costs, were 73 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The financial services company posted revenue of $4.17 billion in the period.
For the year, the company reported profit of $1.79 billion, or $2.78 per share. Revenue was reported as $15.1 billion.
Sun Life shares have dropped 13 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.26, a fall of 19 per cent in the last 12 months.
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This story was generated by Automated Insights
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