TORONTO (AP) _ Manulife Financial Corp. (MFC) on Wednesday reported second-quarter net income of $524.5 million.

On a per-share basis, the Toronto-based company said it had profit of 25 cents. Earnings, adjusted for non-recurring costs, came to 56 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The financial services company posted revenue of $19.83 billion in the period.

Manulife shares have declined 30% since the beginning of the year. The stock has decreased 14% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MFC at https://www.zacks.com/ap/MFC

Automated Insights, source Associated Press News