10:51 AM EST, 11/07/2024 (MT Newswires) -- Manulife Financial's ( MFC ) third-quarter core EPS of $1.00 was above RBC's estimate of $0.90 and consensus of $0.94. Core earnings and EPS benefited from $70 million of tax benefits in the quarter or about $0.04 per share, notes RBC analyst Darko Mihelic.

"MFC's core EPS was higher than we expected, but the strength in GWAM was in part due to tax benefits which we do not expect to repeat and Asia earnings were weaker than we expected, and hence while the core EPS was overall higher than we expected, we view this as a slightly positive quarter."

Manulife is rated Outperform, with a $39 target.

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