August 28, 2018 / 10:59 AM / 9 months ago

Bank of Montreal quarterly earnings beat market expectations

FILE PHOTO: A Bank of Montreal (BMO) sign is seen outside of a branch in Ottawa, Ontario, Canada, August 23, 2016. REUTERS/Chris Wattie/File Photo

TORONTO (Reuters) - Bank of Montreal (BMO.TO), Canada’s fourth biggest lender, on Tuesday reported third-quarter results which were ahead of market expectations, helped by a strong performance from its U.S. business.

The bank said earnings per share, excluding one-off items, rose 16 percent to C$2.36 in the quarter ended July 31, compared with C$2.03 a year ago. Analysts had forecast earnings of C$2.27, according to Thomson Reuters I/B/E/S.

Reporting by Matt Scuffham; editing by Jason Neely

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