TD's High Costs Hurt Q2 Results, Restructuring Plan Revealed, Stock Up

Shares of Toronto-Dominion Bank (TD) have risen 4.5% on the NYSE since the unveiling of its restructuring program to boost efficiency last week. Further, the company announced its second-quarter fiscal 2025 (ended April 30) results.The company’s quarterly adjusted net income of C$3.6 billion ($2.63 billion) fell 4.3% year over year.Higher provisions for credit losses and expenses acted as undermining factors. Also, lower loan balances were another negative. Nonetheless, growth in net interest income (“NII”) ...