Manulife Financial Corporation Stock Slides Nearly 6% After Q1 Earnings Miss Despite Asia Jump
Manulife reported first-quarter core earnings of C$1.84 billion, up 8% on a constant-currency basis, but U.S.-listed shares fell about 6% after core EPS missed estimates. Net income attributable to shareholders more than doubled to C$1.15 billion. Asia core earnings rose 22%, while Canada and U.S. results weakened and Global Wealth and Asset Management saw C$4.4 billion in net outflows.