Manulife Financial Corporation Stock Slides Nearly 6% After Q1 Earnings Miss Despite Asia Jump
Shares of Manulife Financial Corporation dropped roughly 6% in U.S. trading Thursday, as the insurer reported higher first-quarter profit but fell short on core earnings per share. Investors zeroed in on lagging results from Canada and the U.S., despite another solid performance out of Asia. This move stands out for Manulife, which had been riding a decent run heading into results season. Investors remain focused on whether heavyweight Canadian insurers like Manulife can actually convert that Asian momentum into more reliable group-wide earnings. According to Reuters, Manulife’s stock is up roughly 9.6% so far this year—ahead, but still trailing Sun Life, its smaller rival, which has climbed 13.2% and just reported stronger quarterly profits last week.