UPDATE: Bank of Montreal FQ2 Profit Surges 27%

Bank of Montreal

reported a 27% rise in its fiscal second-quarter profit. BMO's quarterly earnings climbed to C$1.03 billion ($1.01 billion), or C$1.51 per share, versus a year-ago profit of C$813 million, or C$1.32 per share. On an adjusted basis, BMO earned C$1.44 per share, versus analysts' estimates of C$1.36 per share. BMO shares closed at $54.10 yesterday.