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Aug 8, 2018

Sun Life Financial earnings up nearly 9% in second quarter

Sun Life CEO on trade concerns and the outlook for the company

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 TORONTO - Sun Life Financial Inc. says its net income rose about six per cent in its most recent financial quarter.

The Toronto-based financial services firm says its reported net income was $729 million in the second quarter, up from $689 million in the same quarter the previous year.

The company says the increase came primarily from business growth and favourable morbidity experience.

Earnings per share were $1.20, up from $1.12 a year prior.

The results outperformed analysts expectations, who estimated net income of $705.75 million and earnings per share of $1.15, according to Thomson Reuters Eikon.

The company says its quarterly dividend will remain 47.5 cents per common share, the same as was paid in the previous quarter.