Manulife profit misses estimates on energy investments

Thu Feb 11, 2016 6:19am EST
 
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TORONTO Feb 11 (Reuters) - Canadian insurer Manulife Financial Corp reported fourth-quarter earnings that missed market estimates on Thursday, hit by the impact of weak oil prices on its investments.

Net income for the quarter ended Dec. 31 was C$246 million, or 11 Canadian cents a share, compared with C$640 million, or 33 Canadian cents a share, a year ago. Core earnings rose to 42 Canadian cents share.

Analysts on average had expected earnings of 45 Canadian cents a share, according to Thomson Reuters I/B/E/S. (Reporting by John Tilak; Editing by Angus MacSwan)