Manulife Financial reports lower quarterly profit as North American units struggle
Manulife reported a fourth-quarter profit of 1.50 billion Canadian dollars as North American units struggled. Net income fell from the previous year.
Insights:
Manulife Financial Corporation reported a lower fourth-quarter net income of C$1.50 billion for the period ended December 31, a decrease from the C$1.64 billion recorded during the same quarter the previous year. The results, which were announced on February 11, highlight a measurable decline in the company’s core performance as it grapples with softer results in its primary North American markets.
The company’s earnings per share for the quarter fell to 83 Canadian cents, down from 88 Canadian cents a year earlier. According to the financial report, this reduction in net income attributable to shareholders was largely due to weakness identified in the operations of both Canada 
CA and the United States 
US. These two core country units underperformed during the three-month period, leading to the overall year-over-year decline in profitability.
CA and the United States US. These two core country units underperformed during the three-month period, leading to the overall year-over-year decline in profitability.
