Bank of Montreal (BMO) Shares Drop Over 5% After Q4 Earnings Miss

Dec 05, 2024

Bank of Montreal (BMO, Financial) shares fell over 5%, reaching a low of $90.47. The bank reported its fourth-quarter earnings for the 2023 fiscal year, with revenue of CAD 8.96 billion, a 7.7% increase year-over-year, surpassing market expectations of CAD 8.38 billion. Net profit rose by 34.7% to CAD 2.304 billion. However, adjusted earnings per share were CAD 1.90, falling short of the anticipated CAD 2.39. The bank's total provision for credit losses was CAD 1.52 billion, significantly higher than the expected CAD 1.05 billion.

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