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Bank of Nova Scotia Shares Rise After 2Q Profit, Revenue Beat

By Adriano Marchese

 

Shares of Bank of Nova Scotia rose in early trading Wednesday after the Canadian bank reported higher-than-expected profit and revenue in the fiscal second quarter.

At 9:35 a.m. ET, the shares were up 3.1% at C$83.86.

Adjusted earnings were 2.18 Canadian dollars a share (US$1.70) for the quarter, beating analyst expectations for C$1.97 a share, taken from FactSet.

Revenue rose to C$7.94 billion in the three months ended April 30 from C$7.74 billion a year earlier, ahead of analyst expectations for C$7.88 billion.

The bank's provision for credit losses were C$219 million, down from C$496 million.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

May 25, 2022 09:57 ET (13:57 GMT)

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