05:28 PM EDT, 05/13/2026 (MT Newswires) -- Manulife Financial ( MFC ) was last seen down 3% in New York after-hours trade after it reported a first-quarter core earnings miss on Wednesday.

Core earnings rose 8% to $1.84 billion, or $1.06 per share, from $1.77 billion, or $0.99 per share, in the previous corresponding quarter. The result missed the consensus analyst expectation of $1.10 per share, according to FactSet.

Manulife said Asia core earnings climbed 22%, reflecting continued business growth and the net positive impact of 2025 updates to actuarial methods and assumptions. Global wealth and asset management (WAM) core earnings increased 2%.

Canada and U.S. core earnings fell 6% and 4%, respectively. Canadian core earnings were impacted by unfavorable insurance experience in Group Insurance, while U.S. earnings were affected by lower investment spreads, the company said.

Core ROE was 16.5% for the quarter, an increase of 90 basis points compared with the first quarter of last year.

Manulife will pay a regular quarterly dividend of $0.485 per share on June 19, to shareholders of record on May 29.

Manulife shares were last seen down US$1.23, to US$38.62 after hours. They closed down $0.20, to 54.62 on the Toronto Stock Exchange.