Toronto-based Manulife Financial Corp. recorded a second-quarter profit of $1.26 billion, a slight increase from the same period last year.
Net income attributable to shareholders was up from the $1.25 billion in the quarter ending June 30 last year, while earnings were 61¢ per common share for both quarters.
Earnings per share were slightly below the 62¢ expected by analysts, according to Thomson Reuters Eikon.
Core earnings were up in its Canada, U.S. and global wealth- and asset-management divisions, while earnings slipped in Asia.
Restructuring charges related to its downsizing as part of a digital strategy shift came in at $200 million for the quarter.
The company said in June it will cut 700 jobs over the next 18 months as part of a streamlining of operations.