07:08 AM EST, 02/27/2025 (MT Newswires) -- Toronto Dominion Bank ( MLWIQXX ) (CM.TO, CM), moving to put behind it a 2024 made difficult by a U.S. investigation into its flawed anti-money laundering practice, on Thursday lodged a first-quarter earnings beat on improved revenue. The bank cited higher expenses as something for it to watch and said U.S. AML remediation remains its top priority.

For Q1, RBC reported adjusted net income was $3,623 million, compared with $3,637 million. Adjusted diluted EPS were $2.02, compared with $2.00 and beating a FactSet forecast of $1.96.

Reported net income was $2,793 million, compared with $2,824 million. Reported diluted EPS were $1.55, compared with $1.55. Total revenue reported was $14.049 million versus $13.714 million a year earlier. Total revenue adjusted was $15.030 million versus $13.771 a year earlier.

TD's Common Equity Tier 1 Capital ratio was 13.1%.

For the quarter ending April 30, the bank will pay a dividend of $1.05 per common share to shareholders of record on April 10.

"While expenses remain somewhat elevated, we delivered solid earnings, which positions us well as we begin the new fiscal year," said Raymond Chun, Group President and Chief Executive, TD Bank Group. "U.S. AML remediation remains our top priority and we continue to make consistent progress to strengthen the Bank. The strategic review is advancing as planned, and we have taken early action, such as our divestiture of Schwab, as we develop our strategy and roadmap for the future."

TD has said proceeds from the $20-billion Charles Schwab sale will be used to compete for more business in Canada.