Canada's TD Bank Beats Estimates (TSX:TD)

Canada’s Toronto-Dominion Bank (TSX: TD) is reporting first-quarter results that beat analyst estimates.

TD Bank's net income rose to $1.3 billion in its latest quarter, doubling the $653 million that it earned a year earlier.

The bank's diluted earnings were $1.44 per share before adjustments and $1.60 after adjustments beating analyst estimates of $1.35 per share.

TD's revenue for the quarter was $5 billion, up about $900 million from a year before and also above analyst estimates.

TD Bank becomes the third of Canada's big banks to exceed Bay Street estimates, with only Royal Bank of Canada (TSX: RY) falling slightly short on Wednesday.