TD beats expectations, reports $2.53B net income

TD Bank had $2.53 billion of net income during the first quarter, up from $2.22 billion a year ago, according to results released Thursday morning.

The earnings amounted to $1.32 per diluted share, compared with $1.17 per diluted share during the first quarter of last year.

After adjustments the bank had $1.33 of earnings per diluted share better than the $1.27 that analyst estimates, according to data compiled by Thomson Reuters.

Adjusted net income was $2.56 billion during the quarter, compared with $2.25 billion a year earlier.

TD also reported $9.12 billion of revenue during the quarter, up from $8.61 billion a year ago.

The bank says its quarterly dividend will rise by five cents to 60 cents per share, payable on May 1.